Gold price today: Yellow metal trades higher, may face resistance at Rs 49,900
Experts are of the view that gold and silver can be bought on dips. Gold has support placed at Rs 49,220 and resistance is at Rs 49,900.
Source: Reuters
Gold prices rose in the Indian markets on December 16, tracking positive trends in international spot prices. On the Multi-Commodity Exchange (MCX), February gold contracts were trading higher by 0.34 percent at Rs 49,610 per 10 gram at 0920 hours. March silver was trading 0.64 percent higher at Rs 65,265 per kilogram.
Experts are of the view that gold and silver can be bought on dips. Gold has support placed at Rs 49,220 and resistance at Rs 49,900.
Gold price today: Yellow metal trades flat above Rs 49,000; US Fed meeting in focus
Experts are of the view that precious metals could remain volatile ahead of the outcome of the US Fed meeting. The immediate support for Gold is placed at Rs 48,700 while on the upside, the yellow metal could face resistance near Rs 49150.
gold
India Gold February futures trade flat on December 15 but with a positive bias as investors wait for the outcome of the US Federal Reserve meeting which will begin on December 15-16.
On the Multi-Commodity Exchange (MCX), February gold contracts were trading higher by 0.21 percent at Rs 49,044 per 10 gram at 09:20 hours. March silver was trading 0.31 percent higher at Rs 63,667 per kilogram.
Experts are of the view that investors will be better off deploying sell on rally approach at around Rs 49,500, with the stop loss of Rs 49,770 for a target of Rs 49,000-48,920.