Gold Rate Today on 6 May 2024 : There was a big rise in gold prices as soon as the market opened on Monday, the first trading day of the week. On the MCX exchange, gold for delivery on June 5, 2024 was seen trading at Rs 70,974 per 10 grams with a rise of 0.43 per cent or Rs 306 on Monday morning. Along with gold, there was a huge rise in the prices of silver also. There has been a rise in gold prices even at the global level. Demand for gold is expected to increase in India due to Akshaya Tritiya.
There was a rise in silver prices on Monday. On the MCX exchange, silver for delivery on July 5, 2024 was seen trading at Rs 81,900 per kg with a gain of 1.06 per cent or Rs 857. Even at the global level, silver prices continue to rise.
gold globally
On Comex, the price of gold appeared at $ 2318 an ounce with an increase of 0.42 percent or $ 9.70. At the same time, gold spot was seen trading at $ 2310.81 per ounce with an increase of 0.39 percent or $ 9.07.
silver globally
The global price of silver on Comex was seen trading at $ 27.20 an ounce with an increase of 1.76 percent or $ 0.47. At the same time, silver spot was seen trading at $ 26.91 an ounce with an increase of 1.31 percent or $ 0.35.
What is the opinion of experts?
According to Ajay Kedia, CMD of Kedia Advisory, ‘There has been an 8 percent increase in gold demand in India in the March quarter. But according to the World Gold Council, gold consumption may decline in 2024 due to high prices. Technically, there are signs of possible reversal in gold prices. Several indicators on the weekly charts are showing overbought conditions. Below the level of 71,200, support can be seen at Rs 70,200. If the decline continues, prices may go below Rs 69,600 to Rs 69,000 per 10 grams. After this, after crossing the resistance of 71,600, the prices will move towards the level of 72,800 and then 74,000.
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