Gold Rate Update: Gold gets Rs 9000 cheaper than record level, excellent opportunity to buy!

Gold Rate Update: Gold gets Rs 9000 cheaper than record level, excellent opportunity to buy!

In the second wave of the Corona virus, the price of gold is fluctuating amid economic uncertainties. The price is rising due to the investment of big investors in gold. But its physical demand has declined. The price of gold has not risen much since the wedding and festive season. Today, gold is trading at 47108 per 10 grams, up 0.23 per cent at the MCX. Silver, meanwhile, gained 0.27 per cent to Rs 69,809 per kg. In August 2020, the price of gold reached a record high of Rs 56,200 per 10 grams. So gold is still Rs 9100 below this level. While silver is also Rs 10,100 cheaper than its record level.

Gold is likely to rebound

Is. There is a risk of stagnation in economic activity. Investing in gold increases in this time of economic uncertainty. Because people turn to gold as a safe investment. So if you want to buy gold now is a good opportunity. Although there is no demand for gold in the coming days, prices are likely to rise. Even if jewelry and retail purchases do not increase, large investors can invest in them as hedging and this can lead to higher prices.

The possibility of investing in gold as a safe investment </p Gold is currently on the rise in the domestic market. The rupee’s weakness against the dollar has led to a rally in gold. At the same time, investors have turned to gold as a safe investment due to the rise in new cases of Corona virus. This is likely to further increase the price of gold. It is hoped that gold prices will pick up in the coming days. Gold imports are currently on the rise in the country. That being said, even retail buyers may turn to gold as a safe investment in the coming days. This could lead to a new boom in gold.

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