Gold-Silver Price Today: Gold and silver shined in the beginning of the week, big fall of 5% in crude oil; Know the latest prices on MCX – ..

On Monday, the first trading day of the week, gold and silver are trading with gains in the Indian futures market (MCX). This rise is being seen in the bullion market due to the weakness in the US dollar index in the international market. In fact, due to the cessation of military attacks between America and Iran over the weekend, crude oil prices have fallen by 5 percent, which has put pressure on the dollar and increased investors’ inclination towards precious metals.

Latest rate of gold and silver on MCX

On Monday morning, the August futures of gold on MCX were trading at around Rs 1,44,000 per 10 grams with a rise of Rs 919 or 0.64 per cent. Talking about the September futures of silver, it saw a strong rise of Rs 2,310 i.e. 1.04 percent and reached the level of Rs 2,24,403 per kg.

A decline of more than 0.30 percent has been recorded in the US dollar index. Due to the weakening of the dollar, investing in gold and silver has become a little cheaper for traders buying in foreign currencies.

Why did crude oil fall by 5%?

After two weeks of tensions in the Middle East, crude oil prices fell by 5 percent over the weekend as both the US and Iran stopped military attacks and Brent crude fell to around $91. Although there are still no clear signals regarding diplomatic talks, the cessation of military operations has raised hopes of resumption of oil supply from the Strait of Hormuz.

Talking about the international market, gold is trading in a limited range around $ 4,000 an ounce since the end of June. The market’s eyes are also fixed on the decisions taken by the Federal Reserve on interest rates.

Condition of other commodities (MCX Market Update)

• Copper: July futures were trading marginally higher at Rs 1,321.90 per kg.

• Crude Oil: August futures fell by Rs 422 (4.90%) to Rs 8,182.

• Natural Gas: August futures fell by Rs 7.30 (2.60%) to Rs 273.30.

Today’s Earnings Calls from Commodity Expert

According to Ravi Deora, commodity expert of Kunwarji Group, investors can get good opportunities for trading in gold and natural gas in today’s session:

• Gold (MCX Gold August Futures): BUY advice around Rs 1,43,066.

  • Stop Loss: Rs 1,42,560

  • Target: Rs 1,44,500

• Natural Gas (MCX Natural Gas July Futures): SELL advice around Rs 282.