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Is the dip in gold prices a buying opportunity? Experts weigh in

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Gold and silver have witnessed a sharp rally following Russia’s invasion of Ukraine. But the prices soon cooled off as a firm US dollar and upside in bond yield eroded the bullion’s sheen.

Against the backdrop of rising inflation, central bank action on rate hikes, a firm greenback and renewed global growth worries, investors are confused about whether they should buy the dips or short the yellow metal.

 
We expect a recovery in prices from lower levels, where Rs 48,800 would be a crucial level to watch out for. As long as the prices are holding above it, we foresee renewed demand for the precious metal,” Sachdeva said.
In the next six months, we could see a rise of up to 20 per cent from the current levels, says Prithviraj Kothari.

 

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