The price of gold can go up to Rs 47,000 per 10 grams in the domestic futures market, while silver can be seen trading above Rs 68,000 per kg.
Mumbai, April 11 (IANS)| Gold and silver prices declined slightly due to the return of the threat of corona explosion in the country and the strengthening of the dollar due to increased profit-booking pressure in the last session of the last week. Bullion may continue to have a bullish trend this trading week as well. According to experts, the price of gold can go up to Rs 47,000 per 10 grams in the domestic futures market, while silver can be seen trading above Rs 68,000 per kg.
In the global market, the price of gold rose about one per cent last week, while the price of gold on the domestic futures market Multi Commodity Exchange rose by four per cent. At the same time, silver also saw an increase of about three percent on the weekly level.
On MACX, the June contract of gold fell by Rs 228 to Rs 46,610 per 10 grams in the previous session, while the May contract of silver closed down by Rs 540 at Rs 66,961 per kg.
At the same time, the June contract of gold on the international futures market Comex closed at $ 1,744.60 an ounce with a weakness of $ 13.60, or 0.77 percent, in the last session of the last week. At the same time, silver’s May contract closed at $ 25.31 an ounce, down one per cent.
However, bullion market experts say that the ongoing restrictions to prevent the havoc of Corona in metros and other cities across the country, including Mumbai, the financial capital of the country, will affect the spot business.