Gold Price inches lower – Experts says, it is Good Time to Buy

Everyone waits for that time when the prices of gold and silver will decrease. The experts also says the same that any dip in the metal like gold and silver can be used as a great purchasing chance for a target of Rs 50,800-51,000 on gold and Rs 62,000 on silver.

Gold and silver settled on a weaker note last week. Gold settled at $1902.80 per troy ounce with a weekly loss of 1.7 percent and silver settled at $24.285 per troy ounce with a weekly loss of more than 4 percent.

Regardless of some shortcoming in the rupee both the valuable metals additionally chose a more vulnerable note in the domestic grown market.

Gold settled at 50547 for each 10 gram while silver settled at 61676 for every one kilogram. The dollar shows a positive growth last week irrespective of all the uncertainties.

Manoj Jain, Director at Prithvi Finmart told Moneycantrol said “We expect both the valuable metals stay unpredictable this week in the midst of high unpredictability in the dollar file, vulnerability on US Presidential decisions and chats on US upgrade.

Gold is required to hold key help of $1872 per official ounce on a week by week shutting premise and silver is additionally expected to hold $23.20 per official ounce on a week after week shutting premise”.

At MCX, gold is relied upon to hold key help of 49800 for each 10 gram on a week after week shutting premise and silver is required to hold 59500 for every one kilogram on a week by week shutting premise.

We recommend to purchase in both the valuable metals on the decrease in the costs,” he said.


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