Connect with us

Business

Gold Price Today: Know Why NOT to Buy Gold, Silver Now; See the levels to MAXIMIZE your profit?

Avatar

Published

on


Gold Price Today If you are considering investing in bullion, here’s what you need to know! Aggressive buying, now, will not give a good return on gold and silver investments. Zee Business expert Anuj Gupta explains the strategy to adopt when planning investments in gold and silver. It also gives crucial levels for intraday trading on MCX Gold and Silver futures contracts.

Gupta, who is assistant vice president, commodities and currency research at Angel Broking, said there are many options for investing in gold. This includes buying in the physical market, ETFs, Sovereign Gold Bonds (SGBs) and MCX futures. He cautioned against timing, however.

See Zee Business Live TV Streaming below:

Gupta recommended selling gold. He also recommended the figures involved. He said he was selling gold at Rs 49,000. He set the stop loss at Rs 49,400 while the target price at Rs 48,300.

Prospects for gold and silver

The technical analyst said he expects a correction in the price of gold and silver and that may not be the right time to engage in aggressive bullion buying. Gupta said the short-term outlook for gold and silver is weak, although the medium and long-term situation remains intact.

US President-elect Joe Biden taking the Oval Office will bring a lot of stability. It might take a bit of shine on gold and silver. Gold is a safe haven for investors in times of uncertainty.

Additionally, the US dollar and bond yields have followed a recovery path from lower levels, he added. This will likely trigger a correction, he added.

The national indicators are the 2021 budget, where the gemstone and jewelry sector is calling for a reduction in import duties from over 12 percent currently to around 6 percent. He said people should wait until the 2021 budget is presented on February 1.

Another request is to relax the rules regarding KYC’s requirements to buy jewelry, gems and other gems. Under this, the buyer is required to give the details of PAN and Aadhaar for purchases made above Rs 2 lakhs.

Gold investment strategy The spot price of gold is around Rs 50,000 per 10 grams. He expected the price to be around 47,000, which should be the right level to invest in physical gold.

As for February MCX gold futures, the yellow metal was trading at Rs 48,853 per 10 grams, down nearly 0.9% from Wednesday’s previous close.

Silver investment strategy

The price of silver was Rs 65,170. MCX March Silver futures were trading at Rs 65,135 per 1kg at that time, down more than 1.3%. He recommended to sell at Rs 65,800. The stop loss is Rs 66,600 and the target price is Rs 64,500.

He recommendsWAIT and WATCHstrategy.



What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos



picture credit

ExBUlletin

to request, modification Contact us at Here or [email protected]