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Gold Rate Today: Gold bullion bullish, buying advice at this price

In the domestic futures market, gold and silver are increasing sharply on Thursday. This is because of the strength in the rupee. On the Multi Commodity Exchange (MCX), the gold contract jumped by Rs 5 to Rs 32,264 per ten grams at around 11.40 a.m.




On the MCX, silver for July futures rose by Rs 3 a kg to Rs 37,520 per kilogram. Talking about the international markets, there was also a spotlight of gold selling at around $ 1296.30 per ounce without changes.

 According to AVP (Commodities and Currency) Amit Sajeja, Motilal Oswal Financial Services says that in the US, the data for Retails Sales has weakened in April. The US Department of Commerce's report released yesterday said that the total sales price has declined by 0.2%, while retail sales increased by 1.7% in March.

 Apart from this, increasing trade war between the US and China could lead to strong demand for gold investment. In such a case, buy gold at MCX at Rs. 32,200 in June futures. Keeping a stop loss at Rs 32080, keep a target of 32,430 rupees per ten grams in today's session.

 Meanwhile, the world's largest gold-backed exchange traded fund SPDR Gold Trust said that its holding fell 0.4 percent to 733.23 tonnes on Wednesday. This is the lowest since October 9 last year

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