Gold Rate Alert: Why is this the time…? Is it right to buy gold now or will the price fall further? Get expert advice

Gold Rate Alert: Due to the chaotic situation in the global market, the price of gold fluctuates daily. But MCX Gold August Futures are currently trading in a bullish trend. After a significant recovery from the lows, gold prices have reached a strong position. But is it right to buy gold now or is the price of gold going to fall further? Experts have given information about this. Advice on whether to buy gold on July 3

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What do the experts say?

According to Research Analyst Jatin Trivedi, Vice President, Commodities and Currencies, LKP Securities, gold prices are currently trading above the short-term moving average and support levels of the previous trading session. Although the RSI has reached the overbought zone, it indicates that there is a strong presence of buyers in the market.

When to buy gold

If you are looking to buy gold today, July 3, experts say you should consider buying if the price reaches around ₹1,47,400. But, to avoid risk, keep a strict stop-loss below ₹1,46,800.

Technical charts

Gold movement is strong on technical charts. Prices are consistently hitting highs and lows, indicating a bullish trend. Additionally, a bullish crossover in the short-term moving average, a positive MACD signal, and trading above the previous trading day’s pivot support indicate that the market has strong buying sentiment.

So, before investing in gold, consider expert advice and make a crucial informed decision.

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