Gold metal slips, buy the dip for a target of Rs 51,200

Gold metal slips, buy the dip for a target of Rs 51,200

Gold slipped in the Indian market in the morning trade on January 8 following a muted trend in international spot prices amid a surge in US Treasury Yields and a firm dollar.

On the Multi-Commodity Exchange (MCX), February gold contracts were trading lower by 0.29 percent at Rs 50,758 for 10 grams at 0920 hours. March silver was trading 0.26 percent lower at Rs 69,777 a kilogram.

Experts are of the view that investors can consider buying gold on the dip for a target of Rs 51,000-51,200 per 10 gm. Silver is also a buy for a target of Rs 71,500.