silver may test USD 30 levels very soon. Anuj Gupta Commentary on Gold and Silver - On Monday, Silver price were up around 8 percent in the international markets currently trading at USD 28.56 per Oz. Gold prices also trading on a positive note at 49,560 levels up by 0.47 per cent levels. This rally in silver prices is on account of social media posts urging retail investors to buy silver mining stocks and share silver trust, an exchange traded fund backed by silver holdings, leading to retail frenzy, in turn rising prices for the silvery metal.
Weakness in dollar and no concrete signs of the additional USD 1.9 trillion virus relief fund by US further weighed on Gold. As of today, traders can go for buy in Gold at 49, 300 levels with the stop loss of 49,000 levels for the target of 50000 levels. They can also for buy in Silver at 72000 levels with the stop loss of 70500 levels for the target of 74,500 levels. In international market gold may test USD 1900 levels and silver may test USD 30 levels very soon.
Gold Price Today – MASSIVE increase in MCX Silver price, up by Rs 4000; Gold up around Rs 200, Know trading strategy before budget | Zee Business (zeebiz.com)