Gold Price today, April 22: Yellow metal opens above 18,200 per 10 gm on MCX; check new target

Gold Price today, April 22: After breaching 48,000-mark per 10-gram, Gold Futures on Multi Commodity Exchange (MCX) slightly dipped in opening hours. After creating day's high of Rs 48, 260, it was trading at Rs 48,090 per 10 gram on MCX at 10.30 am on April22. MCX June Gold opened on Rs 48, 252 and was trading Rs 132 below its closing price on April 21. Silver futures declined 0.03 per cent or Rs 22 to Rs 70,316 per kg on Thursday.

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In the International market, Gold prices are inching closer to $1800 per troy ounce while Silver May futures contract settled at $26.57 per troy ounce. After opening for 1793.7 per troy ounce, international gold peaked to 1797.40 per troy ounce on Thursday.

Meanwhile, expert has suggested buy on dips strategy on precious yellow metal.  

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 has Suggested 'buy on dips' strategy. Sajeja had 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. 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.  
Meanwhile, Delhi Gold spot price fell by Rs 305 to Rs 46,756 per 10 gram, while Silver dipped Rs 113 to Rs 67,810 per kilogram.