However, commodity experts have maintained that dip in gold price is ‘good opportunity’ for investors and buyers as overall sentiment of both gold and silver is bullish.
Speaking on the gold price outlook for short-term Anuj Gupta, Vice President — Commodities & Currency Trade at IIFL Securities said, “This ₹311 dip is nothing but profit-booking as gold price had been rising for the last few trade sessions and some correction around ₹48,000 levels was awaited.
Anuj Gupta of IIFL Securities said that in immediate short-term, gold traders can buy gold at ₹47,500 for the target of ₹47,900 maintaining stop loss at ₹47,200.