Gold metal trades flat, Gold and silver tumbled at previous close
Gold was trading flat in Indian markets on December 10, tracking a muted trend in international spot prices on vaccine hopes as investors shifted from safe haven to riskier assets again.
On the Multi-Commodity Exchange (MCX), February gold contracts were trading higher by 0.01 percent at Rs 49,266 per 10 gram at 0920 hours. March silver was trading 0.29 percent higher at Rs 63,682 per kilogram.
Experts are of the view that investors will be better off deploying a sell-on- rally approach around Rs 49,500 with a stop loss of Rs 49,770 for a target of Rs 49,000-48,920.
Gold and silver prices tumbled on December 9 amid gains in the dollar index and record outflow from gold-backed ETF in November.