Gold MCX futures down today, silver price increases; check all details here

Due to the downward trend in the international spot gold prices, the domestic gold rate has also gone down. As per News18, gold is trading flat on Thursday, 3 June and experts have warned investors to stay cautious today. Gold futures were trading in red at 9:20 am and stood at Rs 49,580, down by 0.04 percent. On the other hand, silver is on the rise today. According to a report in NDTV, silver was up on the Multi Commodity Exchange (MCX) by 0.13 percent at Rs 72,775 per kilogram. Ganganagar Commodities Limited’s AVP- research commodities Amit Khare said that the prices of both the metals are firmer in midday US Trading. He added that the technical posture for both gold and silver remains bullish, reported News18. As reported by CNBC-TV18, director of Kedia Advisory, Ajay Kedia said that after the Beige Book was released by the Federal Reserve, the overall sentiment for gold remained firm. The book said that from early April to late May, the economy of the US has increased at a faster rate. Head of Research-Currency at Emkay Global Financial Services Rahul Gupta told Financial Express that a correction of 3 to 4 percent is expected before gold moves towards an all-time high. The publication further quoted Bhavik Patel of Tradebulls Securities who said that the MCX gold futures for Diwali are expected to be at Rs 52,000 for 10 gram.