Gold Prices Today: Investors can buy gold on dips; support for yellow metal around Rs 49,000-47,770

Gold Prices Today: Investors can buy gold on dips; support for yellow metal around Rs 49,000-47,770

Gold Price Today: We suggest buying gold on dips around Rs 49000 with a stop loss of Rs 47770 for target of Rs 49700 and silver around Rs 66400 with a stop loss of Rs 65800 for target of Rs 68000, said Manoj Kumar Jain, Prithvi Finmart Commodity Research.





November 12, 2021 / 10:17 AM IST





Gold Prices, Silver Prices



Gold prices neared a five-month high touched in the previous session, after strong US consumer price data prompted a rush into the precious metal seen as a hedge against inflation.

On the Multi-Commodity Exchange (MCX), the gold contracts were down 0.17 percent to Rs 49,132 for 10 grams at 10:16 am. Silver futures were marginally down 0.08 percent to Rs 66,913 a kilogram.

COMEX gold trades marginally lower near $1860/oz after a 0.8 percent gain on November 12. Gold stalled near June highs as support from increased demand as an inflation hedge and choppiness in equity markets is countered by persisting strength in US dollar amid expectations that Fed may act soon. ETFs saw net inflows however the pace is marginal which shows lack of investor interest. Although gold has paused after sharp gains in the