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Gold price today: Yellow metal hits fresh record high; buy on dips for target of Rs 48,600

Experts are of the view that as long as yellow metal sustains above Rs 48,200, it is a buy on dips for a target of Rs 48,600 per 10 gm.

June 24, 2020 / 12:26 PM IST

India Gold August Futures pared gains after hitting fresh record highs of Rs 48,333 per 10 gm on June 24 tracking positive trend seen in the international spot prices.

Experts are of the view that as long as yellow metal sustains above Rs 48,200, it is a buy on dips for a target of Rs 48,600 per 10 gm.

On Multi-Commodity Exchange (MCX), August gold contracts were trading higher by 0.10 percent at Rs 48,281 per 10 gram at 09:30 hours. July futures for silver were trading 0.28 percent lower at Rs 48,500 per kg.

Gold and silver extended gains on June 23 in the international market. Both precious metals gained around 1 percent. Gold settled at $1,782 per troy ounce and silver also settled at $18.06 per troy ounce.