Gold and silver prices slide again for the second day on Friday. As on Saturday  amid the COVID vaccination drive across the country. Gold futures on the Multi-Commodity Exchange (MCX) contracts (gold price today) were trading lower by 0.24 percent at Rs 49,104 for 10 grams at 09:20 hours. Silver futures fell by 0.75 percent lower or Rs 503 at Rs 66,145 per kg.

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Meanwhile, experts suggest that investors should buy gold on dips towards Rs 49,000 for an (gold price today)   initial upside target of Rs 49,500.

"COMEX gold trades little changed near $1,851/oz after a 0.2 per cent decline yesterday. Gold is choppy as support from rising virus cases, disappointing US economic data and (gold price today)  hopes of higher US stimulus is countered by higher US bond yields, vaccine progress and continuing ETF outflows,” said Ravindra Rao, VP- Head Commodity Research at Kotak Securities told ET.

Gold price varies across India due to excise duty, state taxes, and making changes. In New (gold price today)  Delhi, the gold price of 22-carat gold is at Rs 48,350 per 10 gm, while in Chennai it fell to Rs 46,600. In Mumbai, the rate was Rs 48,430 according to the Good Returns website. The price of 24-carat gold in Chennai was Rs 50,880 per 10 gm.

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