Gold Price Today: Yellow metal to climb Rs 53,000 peak; experts unveil this money-making strategy
Gold Price Today: Last week, Zee Business panel of bullion experts' prediction is that that gold price in India will hit Rs 52,000 and today it is around the given target.
Gold Price Today: Last week, Zee Business panel of bullion experts' prediction is that that gold price in India will hit Rs 52,000 and today it is around the given target. However, the expert panel is still bullish on the precious metal rally and now they have given a new weekly target of Rs 53,000 by end of the week or by coming Monday. However, they said that one should either buy at current levels or it witnesses some profit-booking and reaches at Rs 51,500 to Rs 51,600 per 10 gm levels.
Speaking on the gold price outlook for this week Ze Business panel of bullion expert member Bhargav Vaidya said, "By end of this week gold price is expected to climb Rs 53,000 per 10 gm levels but one should buy it at current levels of around Rs 51,900 per 10 gm. One should wait for the profit-booking trigger once it hits Rs 52,000 per 10 gm levels and take buy position at around Rs 51,500 levels." On the probability to get this level to buy gold Vaidya said that there is 70 per cent possibility for the gold price in India to come at around Rs 51,500 per 10 gm levels.
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In case, the gold price doesn't hit Rs 51,500 per 10 gm levels another bullion expert Jatin Trivedi said, "If the gold price breaks Rs 52,000 per 10 gm mark and manages to sustain above Rs 52,100 then there is no hurdle for the gold price up to Rs 52,800 mark. So, one can buy gold above Rs 52,100 for the target of Rs 52,800 per 10 gm."
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For intraday traders Manoj Jain of Prithvi Finmart said, "One can sell gold at Rs 52,150 maintaining the stop loss at Rs 52,200 for the target or Rs 51,850. In case the gold goes down from the current levels and touches Rs 51,700 then one can buy gold in between Rs 51,600 to Rs 51,700 for the target or Rs 52,100."
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