Both gold and silver price have been showcasing upside movement for the last one week but if we look at the performance of both the precious metals in 2021, silver has outshined gold price.
Gold price yesterday hit ₹48,000 levels and finally closed at ₹47,760 per 10 gm levels — logging intraday gain of ₹165 at the Multi Commodity Exchange (MCX).
Gold (Yellow Metal) Chart of the Day: broke the $1800 level resistance yesterday, and while above the $1800 level the risk is for a move back to the 200dma.
Gold price today at Multi Commodity Exchange (MCX) opened ₹5 lower at ₹47,314 per 10 gm levels. However, commodity experts are of the view that the gold price has ‘bottomed out’ and one should look at every dip as buying opportunity in the precious yellow metal.
Physical gold prices in India moved to a discount over official domestic rates for the first time this as covid-related restrictions impacted retail demand. Dealers were offering a discount of up to $2 an ounce this week over official domestic prices, Reuters reported, as compared to previous week’s premium of $2.