Today’s Gold and Silver Rates (June 11, 2024): Expert Advice for Investors Facing Precious Metal Futures Under Pressure

Key Takeaways

– Domestic gold and silver futures were down on June 11, 2024, due to US Dollar strength and ahead of crucial US economic data release.
– MCX gold futures were down 0.35% at Rs 71,190 per 10 gm, while MCX silver futures were down 1.41% at Rs 88,750 per kg.
– Experts recommended selling gold and silver futures on the rise with specific stop loss and target prices.
– COMEX gold in the international market was down 0.25% at $2,321.2 per ounce.
– Analysts see support and resistance levels for gold and expect a bearish bias in the short term.

Gold and Silver Rate Today (June 11, 2024)

Expert Recommendations

• Neha Qureshi recommended selling gold August futures at Rs 71,400 with a target price of Rs 70,900.
• She also suggested selling silver July futures at Rs 90,000 with a target of Rs 91,700.

Analyst Insights

– Praveen Singh sees support and resistance levels for gold in the international market.
– He believes the short-term prospects for gold may remain subdued, but the medium to long-term outlook is constructive.

(Disclaimer: Prices are indicative and subject to change. Consult with a trusted source before making any investment decisions.)

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FAQ

1. Why were gold and silver futures down on June 11, 2024?

Gold and silver futures were under pressure due to broad US Dollar strength and ahead of the release of crucial US economic data.

2. What were the recommended selling prices for gold and silver futures?

Neha Qureshi recommended selling gold August futures at Rs 71,400 and silver July futures at Rs 90,000.

3. What are the short-term prospects for gold according to analysts?

Analysts believe that gold may remain subdued in the short term, but the medium to long-term prospects are constructive.