Gold price today: Know if you should buy or sell the yellow metal below Rs 48,000, here is what experts have to say
The gold prices went above the Rs 48,000 mark but now the market is under pressure. Speaking on the topic if investors should buy or sell the metal, Bhavik Patel, Tradebulls Securities said that based on the price range of the last two days it seems that there is a bit of consolidation in the market.
The gold prices went above the Rs 48,000 mark but now the market is under pressure. Speaking on the topic if investors should buy or sell the metal, Bhavik Patel, Tradebulls Securities said that based on the price range of the last two days it seems that there is a bit of consolidation in the market.
He said that although the inflation data of world economies are low it will increase in the future. He said that there will be a positive trend for today in Gold and added that if the prices dip to around Rs 47,550 - 47,500 then from there long-term plans can be thought of.
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While, Anuj Gupta, IIFL Securities asked investors to stay a bit cautious. But as the trend is positive, buy on dip strategy can be used. If the price falls to Rs 47,500-47,550 then buying can be done, he added. He further asked to keep a stop loss at Rs 47,300 and gave a target of Rs 47,800.
Talking on the near terms, Sunil Katke, Axis Securities said that overall, there will be positivity in gold. He said that the Dollar index has come down to 91 from 91.5 level which will give support to the gold market.
He added that overall interest rates are also likely to be subdued in near terms. For 2-3 months perspective A target of Rs 48,500 and Rs 49,000 can be considered.
Speaking about silver, Anuj Gupta said that the metal is trading above 27.40 in the international market. While in the domestic market it is at Rs 71,000 mark, he added.
The expert gave a buy call saying that a level of Rs 72,000 can be seen tough the market will face some resistance but as per the trend the metal can go above Rs 72,000 in intraday. If there is a dip to Rs 71,300-71,400 then buying can be done. Ge suggested keeping a stop loss at Rs 70,700.
On the positional view, Sunil Katke said that investors should wait as the silver is almost around Rs 71,600. A range of Rs 68,000 can be seen where investors can take a buy call and from there a target of Rs 75,000 can be kept for a timeframe of 3-4 months.
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