On the Multi-Commodity Exchange (MCX), February gold contracts were trading higher by 0.22 percent at Rs 50,151 for ten gram during early morning session. Likewise,  March silver was trading 0.97 percent higher at Rs 68,756 a kilogram.

Experts are of the view that investors could use the dip to buy into precious metals. Gold has support near Rs 49,550 while Silver has support around Rs 67,500.

Gold and silver settled on a mixed note on Tuesday. Gold February futures contract were settled at USD 1882.90 per troy ounce and Silver March futures contract were settled on a weaker note at USD 26.22 per troy ounce.

Indian markets were also settled on a mixed note. Gold February futures contract were settled at 50039 per 10 gram, and silver March futures contract were settled at 68097 per one kilogram.

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