- Advertisement -
Home Commodities Gold Price: 22% drop in the price of gold so far, know...

Gold Price: 22% drop in the price of gold so far, know how much will be cheaper now

0
Gold Price: 22% drop in the price of gold so far, know how much will be cheaper now

New Delhi. Gold prices (Gold Price Today) are continuously falling. So far, the price of gold has come down to a low of about 11 months. Gold touched an all-time high of 57,000 in August last year, but now gold has fallen 22 per cent to Rs 12,400 per 10 grams. In such a situation, the question is whether gold will fall further or it will be seen fast now. Experts say that due to the improvement in the global economic outlook, gold prices have come down.

Will gold prices fall further?

Experts believe that the weakening of gold prices may not be for long. Weakness in the dollar, rising inflationary pressures and monetary expansion have had a direct impact on the gold price.




Know how much cheaper

analysts are assuming that there will be a further decline in gold right now. It is believed that gold may fall to $ 1500 an ounce, after which it will show stability. That is, if seen in Indian rupees according to this, gold can come down below 40000 thousand.

Hence the declining gold prices

Chirag Mehta, senior fund manager at Quantum Mutual Fund, says that with more money getting stuck in the real economy due to additional spending, the expectation of strong market inflation and the downtrend of the dollar will help the international market in the coming weeks. Some positives can be seen in the price of gold.

Investors around the world invest heavily in American bonds. Big investors are investing in gold to make bond yields attractive. Therefore, investment in gold has decreased in the international market and this is also a big reason for its prices to come down. Apart from this, the strength of the dollar has also reduced the demand for gold. Because it is expensive for other currency holders to buy gold in dollars.

Invest or not?

It is a good time for an investor to invest in gold, says Chintan Hariya, Product Development and Strategy Head, ICICI Prudential AMC. Last year too, gold returns were around 25 per cent. If you are investing for a long term, then gold is still a very safe and good option for investment, which gives excellent returns. However, experts are assuming that gold can go below the level of 40 thousand, so you can wait a few more days.

- Advertisement -DISCLAIMER
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com

Exit mobile version