Gold rate today under pressure. Experts recommend buy as US treasury yield retraces from 16-year high

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Gold rate today: On account of 10-year US bond yield retracing from 16-year higher levels of 5 per cent and dip in US dollar against major global currencies, commodnity market experts have recommended investors to buy precious bullion metals in current dip. They said that weakness in the US dollar and 10-year US Treasury yield is expected to enable gold and silver prices to bounce back from its support levels. Gold price today opened lower at ₹60,.478 per 10 gm levels and went on to hit intraday low of ₹60,436 levels within few minutes of comodity market's opening bell during Wednesday morning deals on Multi Commodity Exchange (MCX).

In international market, spot gold price is oscillating around $1,973.50 per ounce levels. Blue Jet Healthcare IPO opens today. GMP, review, other details.

Apply or not? Likewise, silver rate today opened lower on MCX at ₹71,619 per kg levels and went on to hit intraday low of ₹71,588 per kg levels during early morning deals on Wednesday. In international market, silver price is oscillating around $22.95 per ounce levels. Looking at the dip in gold and silver prices as profit-taking trigger, Alex Kuptsikevich, the FxPro senior market analyst said, "Gold is experiencing profit-taking after an impressive rally following the escalation in the Middle East.

This week's opening with a gap down was a sign that the market had built considerable profit-taking demand. The gap was closed during Monday, but the decline continued on Tuesday. Advising ‘buy on dips’ strategy in current gold and silver price fall, Anuj Gupta, Head — Commnodity & Currency at HDFC Securities said, “Gold and silver price fall should be seen as buying opportunity by investors as 10-year US bond yield has come below 5 per cent