Gold Price Today: The trend of declining gold prices continues.
New Delhi. The trend of declining gold prices in the Indian markets continues. On MCX, gold futures fell nearly 0.25% to Rs 47,510, while silver futures rose 0.22% to Rs 67,520 per kg. Gold prices fell by nearly ₹1,000 in five sessions amid a weak global trend. Experts say that the price of gold on MCX will be between ₹ 46,850 to ₹ 48,400. Gold prices fell in the global markets today amid a strong US dollar. Spot gold was down 0.2% at $1,803.33 an ounce. In the last five days i.e. so far this week, the precious metal is down about 0.4%.
Know what experts say?
Analysts believe that gold will remain in a narrow range in the near future, as inflation is a major factor in the prices. Gold traders will be watching the results of the Fed’s policy meeting to be held next week. According to commodity experts, gold will be expensive after July, so you will get huge returns in terms of investment, but buying will cost you dearly.
Gold will reach ₹ 48,500
Experts say that the fall in the price of the precious metal is temporary and gold investors should see this fall as a buying opportunity. According to bullion experts, the price of gold will reverse soon and will reach ₹48,500 per 10 grams in a month after the trend reversal.
Gold gave 28 percent return here
If we talk about gold investment, then last year gold has given a return of 28 percent. Last year also, the return of gold was around 25 per cent. If you are investing for the long term, then gold is still a very safe and good option for investment, which gives great returns. According to experts, the price of gold will increase in the coming days, so this is a good investment opportunity for you.
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
