On MCX, gold has support at Rs 46,980-46,800 and resistance at 47,330-47,580, while silver has support at Rs 61,200-60,900 and resistance at Rs 62,200-62,700
Gold price today: The yellow metal has support at Rs 47,300-47,070 and resistance at Rs 47,700-47,850; silver has support at Rs 66,600-66,200 and resistance at Rs 67,500-68,000, say experts
On MCX, gold has support at Rs 47,330-47,100 and resistance at Rs 47,800-48,050. For silver, support is at Rs 71,100-70,700 and resistance at Rs 72,400-72,900, say experts.
Investors can buy gold on dips towards Rs 49,000 for an initial upside target of Rs 49,500 per 10 gm. Silver is also a buy-on- dips towards Rs 65,800 for a target of Rs 68,000.
Global central banks provided financial stimuli to shore up the economy, fuelling global inflation and gold is the best hedge against inflation, say experts.
Experts are of the view that investors could use the dip to buy into precious metals. Gold has support near Rs 49550 while Silver has support around Rs 67500.
A correction of 8- 10% cannot be ruled out from these levels which will be a good point for investors to enter the yellow metal. Investors should follow the strategy of buy on dips.
Experts are of the view that precious metals could remain volatile ahead of the outcome of the US Fed meeting. The immediate support for Gold is placed at Rs 48,700 while on the upside, the yellow metal could face resistance near Rs 49150.
Experts are of the view that investors can buy the precious metal on dips near Rs 48,900, for a target of Rs 49,400, while Silver could be bought around Rs 63000, for a target of Rs 64500.
Investors can sell the gold below Rs 49,500 with a strict stop loss of 49,800 and a target of 49,000 levels. Sell silver below 60,500 with a strict stop loss of 61,200 for a target of 59,500-59,200 levels.
MCX Gold has a support at 50000-49800 and resistance at 51380-51550 levels. Silver is having support at 61800-61200 and resistance at 63100-63800 levels.
Experts are of the view that precious metal could remain choppy amid volatility in the dollar index and investors can look at buying the dip. Support is seen near Rs 50,500-50,330 per 10 gm.
Experts are of the view that any dip in the precious metal could be used as a buying opportunity for a target of Rs 50,800-51000 on Gold, and Rs 62000 on silver.
Experts are of the view that both Gold and Silver are likely to trade in a range and the yellow metal should be able to find support near 50300-50,000 levels.
Experts are of the view that investors can deploy buy on dips strategy as long as Gold trades above Rs 50,220 per 10 gm.
At MCX, gold is expected to hold key support of 49,800 and if prices sustain above 50,050 levels could test 50,220-50,450 levels again.
On MCX, gold could test Rs 49,900-49700 levels again while 50,660 will act as major resistance for gold. Silver could test Rs 59,500-58,800 levels, with 612,00 acting as major resistance.
Experts are of the view that support exists at Rs 50,400 and if gold goes past 50,700, then an upside move towards Rs 51,000 is possible.
India October gold Futures rose sharply above Rs 51,500 and if the momentum continues, experts say the yellow metal can retest Rs 51,600-51,800.
On MCX, gold is expected to hold 51,550 on a closing basis. If prices sustain above 52,100, the precious metal can test 52,330-52,660 levels, say experts.
Experts are of the view that after a smart rally in the past few sessions some profit booking was on cards. On the downside, crucial support for the Gold is placed at Rs 54,400 levels per 10 gm.
As long as gold trades above 53,700, chances of an upside towards 54,000 remain intact, experts say.
Many people invest in physical gold, but for new-age retail investors other ways to invest could be through gold finance companies, gold ETFs, sovereign gold bonds, etc.
As long as gold holds above Rs 53,330, an upside towards 53,550 and 53,700 is possible. Investors should use dips to buy, experts say.
India Gold gained more than 5 percent last week and settled at 51035 and it gained the seventh week in a row. Silver is also following gold and crossed $23 per troy ounce on Friday and reached seven years high.