Gold prices are falling in the domestic bullion market. After a slight jump in the gold price, it has dropped again and the future gold price in MCX has dropped to Rs 47,526 per 10 grams. Commodity market experts say one must buy every autumn, as long as the price of gold is above 46,500. By Diwali, gold can go up to 52,500. That is, there is every possibility of a good return on investment.
Anuj Gupta, vice president (commodity and currency) of IIFL Securities, said that international and domestic factors contributed to the fall in gold prices. Generally, there is a slowdown in the bullion market in July as there is no wedding season in India this month. This has led to a decrease in gold demand. He said gold should remain in the international market as long as it trades above 50 1750 for 50 ounces.
Those who invested in these shares became wealthy, becoming a millionaire in 12 years
The strong support level for gold prices in the Indian market is Rs 46,500 per 10 grams. If this level does not break in gold, investors will have to panic. In the short term, gold is worth Rs 48,500 per ten grams. At the same time, by Diwali, the price of gold could go up to 52,500. If you are investing for the long term, gold is still the safest and best option to invest, which is to make a good return. According to experts, gold prices will rise in the next few days, so this is a great investment opportunity for you.
Received negative returns so far this year
So far this year, gold has had a negative return on investors. Investors received more than two per cent negative returns on gold. At the same time, in 2020, gold gave investors a 25 percent bumper return. In such a situation, experts expect that the festive season is expected to accelerate. During this time, investors can make good money.
9000 from the highest price
Gold prices in Indian markets have fallen below its highest price of Rs 9000. The price of gold declined by Rs 9000 to Rs 5,826 per 10 grams compared to August 2020. Last year, gold prices reached 56,200 per 10 grams.
12930 from silver high
79,980 per kg of all-time high silver. Similarly, silver is also cheaper from its highs around Rs 12930.
Gold imports are many times higher
Imports of gold, which affect the country’s current account deficit, increased to $ 7.9 billion (Rs 58,572.99 crore) in the April-June quarter of 2021. This jump is due to the low base of the comparison. According to statistics from the Commerce Ministry, gold imports declined to 8 688 million rupees ($ 5,208.41 crore) in the same period last year due to the spread of the Corana virus and strict lock-down. Landed. Due to the increase in gold imports during the April-June period of the current financial year, the country’s trade deficit, the gap between imports and exports, has increased to nearly 31 billion.
800-900 tons of gold imports annually
India is the largest importer of gold, mainly imported into the country to meet the demand of the jewelery industry. India imports 800-900 tonnes of gold annually. In the first three months of the current fiscal, exports of gems and jewelery rose to 1 9.1 billion, up from 7 2.7 billion in the same quarter last year.
