Silver Gold Price Today: Fall in gold and silver, know where you can earn in commodity today?

Silver Gold Price Today: Gold prices fell on MCX during the trading session on Monday, April 6. The reason for this was the strengthening of the US dollar and profit-booking due to it. Due to the US-Iran dispute, crude oil prices have remained high, due to which the fear of rising inflation has further increased.

Today, on the first day of the week, there was a slight decline in the price of silver. On Monday, April 6, the price of silver has decreased by Rs 100. In states like Delhi, Mumbai, Rajasthan, UP, Madhya Pradesh, the price of silver is at Rs 2,49,900. At the same time, in South Indian states, the price of one kilogram of silver is trading at Rs 2,54,900.

Furthermore, strong US jobs data has further reduced the chances of the US Federal Reserve cutting interest rates in the near future. This has strengthened the dollar. The effect of this strength is now visible on gold prices also. At around 10:05 am, the June futures contract of gold on MCX was trading at Rs 149,425, lower by Rs 324 or 0.22 per cent. At the same time, the May futures contract of silver was trading at 231,935, in which a decline of 768.00 or 0.33 percent was recorded.

The dollar index remains above the 100 level, due to which gold prices remain relatively expensive in the international markets. The main reason for this rise in the dollar index is the rise in crude oil prices. Since most of the crude oil is traded in US dollars, the increase in the price of this commodity naturally increases the demand for dollars.

Crude oil prices are currently trading at their highest level in many years. On Monday morning, Brent crude was trading near $110 per barrel. The US-Iran conflict, which began on February 28, has now entered its sixth week; This geopolitical tension has provided internal support to crude oil prices.

Market analysts believe that gold prices are likely to continue fluctuating. He suggests that short-term traders should adopt a profit-booking strategy whenever they see a bullish trend in prices.

Manoj Kumar Jain of Prithvifinmart Commodity Research advises investors who have taken long positions. They should do profit-booking on every uptrend. They suggest that one should wait for further improvement in prices before taking any new long positions in gold and silver. Gold and silver prices are expected to fluctuate heavily this week due to fluctuations in the dollar index, rising crude oil prices and the ongoing dispute between US and Iran.