The Domestic market opened with a slightly increase in the white metal, i.e., Silver.
opened with 0.20% increase at Rs.52,233 though gold declined by at 00.20% with the price of Rs.29,610.
Crude oil showed a great start in the MCX with 0.75% increase and at Rs.4670 in the domestic market.
Gold Trend for today:
In MCX Market gold was trading lower today. The gold rate touched an intraday high of Rs. 29637.00 and Intraday low of Rs. 29530.00. Gold was trading lower in the MCX market. India's gold import may double itself in the second half of this year. The hike in the prices of gold is due to the fall in the rupee currecy, the prices cold have reached toa level of Rs. 30,000 but the dollar denominated the price of gold leading to Indian investors prudent.
Silver Trend for today:
Silver prices were trading higher in the major cities today. With highest in Ahemdabad, where it was up by Rs.400 and lowest in Delhi by Rs. 175. Experts suggests to invest in silver rather than Gold. Silver is comparitively cheaper in price and the use of silver is extended to industries as well rather than just jewellary.
So the market sems to be more bullish for silver.
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