Gold Silver Rate today 4 October: Tomorrow, the festival of Dussehra will be celebrated in the country and today on the ninth day of Navratri, a mixed trend is being seen in the prices of gold and silver. Gold seems to be getting cheaper with a slight decline at this time and silver is registering a big rise today. Know whether you have a good chance to buy gold or not.
gold price in futures market
Gold is getting cheaper today on the Multi Commodity Exchange in the futures market. Gold October futures on MCX is getting at a price of Rs 50,130 per 10 grams and a fall of Rs 35 is being seen in it. The effect of festive demand is being seen in the price of gold today.
Silver crosses 61,000
In today’s business, silver is trading with a jump of Rs 463 on MCX and you will have to spend more to buy silver coins. Silver December futures on MCX are trading at Rs 61374 per kg and a jump of Rs 463 is being recorded in it.
shareindia Of VP Head of Research Dr. Ravi Singh Says that after the weakness in the dollar index and treasury yield, lower levels are being seen for gold, so a buying opportunity is being created. The manufacturing PMI data that came yesterday is also indicating for the economy. Amidst the fear of recession in the global economy, the central banks of many countries are on the direction of raising interest rates, which will further strengthen the dollar. Therefore, more opportunities can be found for buying gold. The non-firm payroll data in the US is due out this Friday and the manufacturing PMI may give some good results for the global economic situation.
Today’s Trading Strategy
for shopping- Buy on know above 51300, target Rs 51600
for sale- Learn to sell below 50900, target – Rs 50700
festive season effect
The impact of the festive season is being seen on the business of gold and silver and domestic demand is registering an increase. Before the upcoming Diwali festival, on the festival of Karva Chauth and Dhanteras, people fiercely buy gold, silver ornaments and coins, biscuits, so the bullion market remains bright at this time.
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