Manoj Kumar Jain of Prithvi Finmart suggests buying MCX gold on dips around Rs 59,600 per 10 grams with a stop loss of Rs 59,330 for the target of Rs 60,060.
The sentiment, however, remains upbeat. Concerns about a possible recession, failing banks and collapsing dollar could propel gold prices on MCX to a record high of Rs 65,000 , says Axis Securities s Pritam Patnaik
Expectations of more interest rate hikes have pushed up the dollar and boosted yields on US treasury bills, which, in turn, weighed on precious metals such as gold