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Gold Price Today 26-03-2021: Golden opportunity for gold, silver investors! Bullion price continue to crash
Gold Price Today 26-03-2021: Gold price today dipped Rs 159 and hit rs 44,701 per 10 gm at MCX (Multi Commodity Exchange). Silver price today went down Rs 345 and hit Rs 64,900 per kg at MCX.
Gold Price Today 26-03-2021: Gold price today dipped Rs 159 and hit rs 44,701 per 10 gm at MCX (Multi Commodity Exchange). Silver price today went down Rs 345 and hit Rs 64,900 per kg at MCX. According to commodity experts, overall sentiment of both gold and silver is positive and suggested gold and silver investors to maintain 'buy on dips' strategy. They said that gold price MCX is expected to go up to Rs 48,000 per 10 gm while silver price will hit Rs 72,000 in the same time horizon.
Speaking on gold and silver outlook Anuj Gupta, Vice President — Commodities & Currency trade at IIFL Securities said, "This dip in gold price is due to the ease in crude oil price in the global markets. But, Goldman Sachs sees the oil price pullback as a buying opportunity and forecasts Brent crude reaching $80 per barrel this summer even as the recent rally in prices takes a big breather. Howerver, for traders, the sentiments for gold will remain bearish in short-term and hence gold investors will ahve a big opportunity to accumulate yellow metal and book profit in next two months."
Gold Price Forecast
Gupta said that gold price has currently support at Rs 44,400 per 10 gm while it has resistance at Rs 45,200. So, gold price is currently trading in Rs 44,400 to Rs 45,200 range and once it breaks this level it will soon showcase Rs 46,000 per 10 gm at MCX. In the next two months, gold price can be expected to go up to Rs 48,000, predicted Anuj Gupta.
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Silver Price Forecast
On silver price targets Anuj Gupta of IIFL Securities said that white precious metal may witness Rs 70,000 to Rs 72,000 in nexzt two months time horizon.
Highlighting the major levels that gold investors must keep in mind Amit Sajeja, Vice President — Research at Motilal Oswal said, "Gold is expected to become highly bullish after sustaining above Rs 45,500 and it will showcase Rs 48,000 soon after sustaining above Rs 45,500 levels."
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