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IIFL Security Researcher Anuj Gupta said that the price of gold and silver is range bound at this time. The major trigger for gold and silver prices is coming from the US dollar rate. Dollar index is above 104 in range bound trade. It affects the price of gold and silver and currently it is seen that the price has decreased. The price of gold has been rising steadily for the past several months. Now the rate has reduced somewhat.
Sugandha Sachdeva, an expert in the bullion market, said that this fall in the price of gold may continue this week as well. This week’s February US jobs report and signals from the US Fed will be key this week.
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Nirpendra Yadav, research analyst of Swastika Investmart, said that there may be pressure on the sale of gold this week. Gold rate may be close to 55,000. While the rate of silver can be up to Rs 61,500. Experts predict that the price of gold may fall further this week.
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