Gold Price Today 19-03-2021: GOLDEN opportunity for buyers! Buy precious metal for great gains in two month, say bullion experts

Gold Price Today 19-03-2021: Gold price today rose Rs 130 and hit Rs 44,970 per 10 gm at MCX (Multi Commodity Exchange). According to bullion experts, yellow metal is expected to showcase an upside bias and hit Rs 48,000 per 10 gm levels at MCX. They said that this is the right time to buy gold and keep on accumulating on every dips as gold price once break Rs 45,600 mark, then it will become highly bullish for the next two months. Silver price is also expected to rise up to Rs 72,000 per kg in the same time horizon from its current Rs 67,700 per kg levels.

Federal Reserve Push
Speaking on the gold price outlook Anuj Gupta, Vice President at IIFL Securities said, "The Federal Reserve has kept the interest rates and its monthly pace of bond buying unchanged that indicates that Fed interest rates will remain near-zero through 2023 even as it acknowledged an improved economic backdrop. The Federal Open Market Committee left its benchmark rate unchanged in the range of 0 per cent to 0.25 per cent and said it would continue its $120 billion monthly bond purchases."

Gold, Silver price outlook
Anuj Gupta of IIFL Securities said that this is positive for gold price and in next two months the gold price in the international market may hit $1,780 to $1,800 per ounce levels while in the domestic market, gold rates are expected to go up to Rs 48,000 per 10 gm in the same time-horizon.

Gupta said that Silver price is also expected to rise and hit up to Rs 72,000 per kg. Silver price today rose Rs 475 and hit Rs 67,702 per kg mark.

WATCH | Click on Zee Business Live TV Streaming Below:

Gold Price: Important Levels
Highlighting the important levels for the gold price MCX Amit Sajeja, Vice President — Research at Motilal Oswal said, "Gold price in international market is trading in the range of $1,650 per ounce to $1,730 per ounce. Once, it breaks this upper resistance it may soon become bullish after sustaining above $1,750 to $1,760 per ounce levels. In MCX terms, gold price is facing resistance at Rs 45,600 per 10 gm levels. Once it breaks this level, it is expected to become highly bullish."

So, those gold buyers who are planning to buy gold and silver in the near future, they are advised to buy gold before it goes above Rs 45,600 per 10 gm levels at the MCX.