Gold Price today 15-04-2021: Rs 50,000! What should you do as Corona pandemic rages; expert REVEALS
Gold Price today 15-04-2021: MCX Gold June Future opened the day on Rs 46,680 per 10 gram and hit the day high of Rs 46, 800. The precious metal was trading at Rs 46783.00, up Rs 175.00 or 0.38% from its closing price on Wednesday, at 9:45 am on April 15
Gold Price today 15-04-2021: MCX Gold June Future opened the day on Rs 46,680 per 10 gram and hit the day high of Rs 46, 800. The precious metal was trading at Rs 46783.00, up Rs 175.00 or 0.38% from its closing price on Wednesday, at 9:45 am on April 15. In the international market, gold was trading above $1738 per ounce at the same time. It opened 15 on $1736.11 and scaled a high of $1740. 51 per ounce on Thursday, April 15, 2021.
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As gold price remains volatile in the commodity market, there are certain levels that become important from investors who put their money in the precious yellow metal.
As per experts, one should not worry about volatility in gold price and continue to approach 'buy on dips' strategy from short, medium to long term perspective.
Talking about gold price and volatility, Amit Sajeja, Vice President -Research, Commodity and Currency at Motilal Oswal said," The precious metal has found strong support at 43,000 level and any dip from the current rate should be considered as an opportunity to buy."
Suggesting 'buy on dips' strategy, Sajeja said short-term target for gold would be Rs 48,500. Sounding bullish in the long-run, the expert said, "it could be the beginning of another round of upside after 5 to 6 months of consolidation of sideway to lower movement impacted with correction of 18 per cent from the high. Some part of it was also due to appreciating rupee and now it has also started to depreciate, which is supporting the domestic gold prices. In six months-time, we may even see domestic gold scaling 50,500 to 51,000 mark too"
As far as international market is concerned, the precious metal can show the level of $1810 per once in couple of weeks.
As per Motilal Oswal report, short term target for domestic gold is Rs 50,000 per 10 gm and Rs 56,000 from one year perspective. "As a house, we are bullish on the precious metal as far as next one-year is concerned," concluded Motilal Oswal commodity expert.
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