Gold price at Multi Commodity Exchange (MCX) dipped ₹108 per 10 gm and closed at ₹47,526 per 10 gm. According to commodity experts, dipping gold price is an opportunity for the yellow metal buyers as overall outlook for gold is still 'bullish.' They advised bullion investors to maintain 'buy on dips' strategy till yellow metal is priced above ₹46,500. Gold price predictionSpeaking on the gold price outlook; Sugandha Sachdeva, Vice President at Religare Broking Ltd said, "Outlook for gold is still bullish and any dip in gold price should be seen as an opportunity by yellow metal buyers till the precious metal is priced above ₹46,500 per 10 gm. Gold price targetOn gold price prediction for long-term Sugandha Sachdeva of Religare Broking said, "At MCX, gold price has strong support at ₹46,500 and one should continue buying gold on every dip till it's above ₹46,500 per 10 gm mark on a closing basis.

Source: Mint July 24, 2021 05:15 UTC