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Gold price Today: Should you buy the gold on current levels?

  • The gold price at MCX has a strong support at 46,900 ¼ and on the top, it is expected to address 47,800 € in the immediate short term, experts say.

Gold price today at Multi Commodity Exchange (MCX) opens £ 5 lower at 47.314 € per 10 g. However, raw material experts believe that the gold price has "down-to-earth", and one should view each diving as a purchase opportunity in precious yellow metal. They said that the gold price has a strong support at MCX at MCX of 46,900 and on the top, it is expected to be in the immediate vicinity of $ 47,800. The increase in the great triggers, which are supported in the immediate short-term to medium-term timeframe with gold price rally, said the Bullion experts that the weakness of the dollar, highly volatile stock markets and the Dowish attitude of US Fed food is on the most important interest rates The major reasons that would support the rally of the noble metal cancellality in more detailed to medium-term time horizon.

Talking about the Gold Prize View Anuj Gupta, Vice President - Raw Material and Monetary Research at IIFL Securities said: "Yesterday, gold and silver could be the losing Spree due to the weakness of the US dollar (USD) against Indian National Rupee ( INR). Since the stock market is highly volatile and the US Federal Reserve has maintained the Dovish attitude on key sets, the gold price-outlook is positive. "

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