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Gold Price Dips – Buy at Rs 49,750 action, an appropriate call

A dip towards Rs 49,100 can be used well by the investors to invest in target of Rs 49,750 per gm of Gold.

The yellow metal was trading weakly in the Indian stock market on January 22, 2021. Due to the deaden trend in the International spot prices gold prices dipped below.

However, the investors or the traders can use this dip to buy for a target of Rs 49,750 per gram of gold. The Dollar index is currently in its weaker state. This can ensure stable and asylum prices.

After a flat close of the previous day, the Comex gold was trading near $1,866 for per ounce. This was a steady rate that remained constant throughout the previous session.

Amid a pause in the US Dollar’s rebuff, the gold rate steadied a little bit. The ETF investors however remained on the sidelines.

Due to the increased expectations of the US stimulus, the support price has further increased. The International Gold prices moreover mitigated on a two-week high on January 21 amid the investors booking some profit in the last session.

While in the domestic market, both the gold and silver settled on a mixed note.

The futures contract for the February session also settled at $1,865.90 per troy ounce at a weaker note. On the other hand, the white metal or the Silver contract for March settled at $25.85 per troy ounce on January 21.

Along with gold, buying in silver around 66,500 with a stop loss of 65,800 for the target of 68,200 is also suggested by the experts.


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