Gold price today 23-4-2021: Even after a correction that lasted 2 straight days, market analysts predict that gold price is still in a sweet spot and could be bought at the current level to get good gains going forward.

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Motilal Oswal Financial Services Vice-President Navneet Damani said, "We have seen a bit of weak performance in Gold for the last two days and would likely be more correction today too around 100-200 levels. And, a buying opportunity may emerge."

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Damani affirmed that this correction is retracement as we have seen a rally of Rs 4000 in the last few days. Fundamentally, Gold is still strong and the expected rally is still pending, said Damani adding further that gold should be bought at Rs 47550-47600 per 10 gm with a target of Rs 48000 per 10 gm and stop-loss of around Rs 47350 per 10 gm.

Prithvi Finmart’s Manoj Jain said, "The international market prices of Gold are above $1780, which is sustaining. The fall in Gold, we saw in the last two days was due to the appreciation of the Rupee against the Dollar."

He predicts, Rs 47700 per 10 gm should be a good level for buying in intraday with a target of Rs 48000-48200 per 10 gm and stop-loss of Rs 47480 per 10 gm. He suggests investors buy the yellow metal on dips.

With respect to positional view, Kotak Securities’ Ravindra Rao said, "Gold is still positive and we could see an $1810-1820 level in the next week in Gold. However, there is a corrective move in Indian markets with respect to Gold and there is strong support of Rs 47400-47500 per 10 gm level. This could be considered as a buying emergence."

"We could see gold surging to Rs 48400-48500 per 10 gm levels from the support level, which is also a strong resistance," believes Jain. Positionally, Gold is still in buying zone, and a dip should be termed as buying opportunity. Moreover, the Dollar index and yields both are in corrective mode, Jain added.