Gold and Silver prices remained under pressure throughout this week? What should be the strategy when the markets open on Monday? Should you buy Gold and Silver under the current circumstances? Expert Anuj Gupta, Deputy Vice President, Commodity and Currency Research at Angel Broking gives the complete strategy for the next week.
The Senior technical analyst said that the outlook for gold and silver is weak in the near term. The weakness in Gold and Silver is on the back of high bond yields in the US and a strong Dollar.
The price of Gold is down by over Rs 11,000 from the highs of Rs 57,000 per 10 gm, and in this year alone, the prices have come down by Rs 5200 according to Gupta. This is almost 9.2 per cent depreciation in the last two months. If you are one of those people who have not been able to invest in gold and silver because of high prices can now do it.
Meanwhile, Silver has held its ground, falling by just over Rs 100 or 0.15 per cent since the beginning of 2021, Gupta said.
The Senior Technical Analyst said that as there is some weakness being seen in Gold and Silver, it is time to invest in Gold and Silver.
Source: Zee Business