What does this suggest? Will there be an impact on the investment in Gold and Silver? Expert Anuj Gupta, Vice President , Commodity and Currency Research at IIFL tells this about the outlook of bullion over the next week.
The readers must know that Gold is considered as a haven and people direct their investments towards gold when the other investment avenues are not doing great including the stock markets.
Apart from this a positive commentary on economy in the US is also favouring equity markets.
Gupta, however, said that the existing weakness is a good investment opportunity for long term investors.
Gupta said that the MCX Gold Futures have become cheaper by over 4.6 per cent in June while MCX Silver Futures prices have come down by over 6 per cent during this period.
As for domestic prices, the fall has started reflecting not only on exchanges but in the physical markets too, Gupta said.
MCX August Gold Futures ended at Rs 46,956 per 10 gm, getting expensive by Rs 86 or almost 0.2 per cent from the last closing price on Thursday.
Meanwhile, MCX July Silver Futures were trading at Rs 67,900 per kg on Friday at the closing time, down by Rs 167 or 0.2 per cent from the last closing price.