According to commodity experts, gold price is showing some positive signs as the overall sentiment for gold is still bullish globally. They said that the recent drag on gold price should be seen as a buying opportunity and they recommended that investors should buy gold at around Rs 46,300 per 10 gm level as the yellow metal is expected to hit Rs 47,300 by the end of this weekend itself.

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Speaking on the gold prices, Anuj Gupta, Deputy Vice President — Commodities & Currency trade at Angel Broking said, "Overall the gold price is positive. One can buy gold at around Rs 46,300 per 10 gm levels for the target of Rs 46,900 per 10 gm and Rs 47,300 per 10 gm." However, Gupta strictly recommended to maintain the stop loss at Rs 45,900 per 10 gm. He said that the US dollar slipping below 97 levels at the Dollar Index and dipping US bond yield is supporting the gold rally and by the end of this weekend these targets can be expected to hit on these two major triggers.

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Amit Sajeja, Associate Vice President at Motilal Oswal said, "In the international market, gold price is trading in the range of 41,690 per ounce to $1,750 per ounce. Any dip in the gold price should be seen as a buying opportunity and the recent dip in gold price should be seen from that spec." 

Sajeja said that every time gold nears $1,700 per ounce in the international markets, one should take a buy position and come out of the position if the gold prices are not getting any support at around 1,750 per ounce levels.