Gold prices have fallen significantly in the past five days. The spot price of 24 carat gold in bullion markets fell by around Rs 2000 to Rs 1030 per 10 grams and silver was trading at Rs 2303 per kg. Compared to the all-time high gold price, gold is trading at Rs 9017 per 10 grams. At the same time, silver is cheaper than its previous year’s price of Rs 8585. Looking at the gold fall, people have begun to ask what the price will be once again near the 45000, but experts are not considering the decline as permanent.
The reason for the decline of gold
“Gold has declined due to the rise in the dollar index,” said Ajay Kedia, director and head of research at Kedia Capital. Moreover, the uncertainty in the equity market has decreased and, with margins increasing, there has been more decline in the last two days, but this decline is only temporary. There will be a boom in the long run.
Gold and silver moved last week
<![CDATA[
]]>
| Date and day | Morning Gold Rate (Rs / 10g) | Evening Gold Rate (Rs / 10g) | Good Morning Rate (Rs / kg) |
Silver Evening Rate (Rs / kg) |
| 05 Feb 2021 Friday | 47030 | 47237 | 67208 | 67423 |
| 04 February 2021 Thursday | 47544 | 47452 | 67078 | 67015 |
| 03 February 2021 Wednesday | 48034 | 47976 | 67807 | 67496 |
| 02 Feb 2021 Tuesday | 48537 | 48364 | 71804 | 70302 |
| 01 February 2021 Monday | 48668 | 48745 | 73071 | 73043 |
| 29 January 2021 Friday | 49074 | 49393 | 68337 | 69726 |
| 7 August 2020 | 56254 | 56126 | 76008 | 75013 |
Source: IBJA
On the other hand, Yogesh Singhal, general secretary of the Delhi-Bullion and Jewelery Association, says it is too early to say anything about the impact on the corona market. At the same time, Anuj Gupta, vice president (commodity and currency) of Angel Broking, says market share with India is at a new high. Investors now think gold prices are falling. Shares are making a profit very quickly. Because of this, investors are withdrawing money from gold and placing it in stocks. Gold is declining due to this sale.
You can get back to sleep faster
In its claim to return to gold, the global market has low interest rates, ETFs are still buying, valuations in the equity market are high and any correction will accelerate gold, Kedia says. If you want to invest in gold, investors should buy from 46000 to 46500 now. Its price will go up to 50000 for 10 grams in a couple months.
If you are a beneficiary of a PM farmer you can get Rs 3000 per month, learn how
Gold can reach 52 thousand rupees
At the same time, if the US gets an incentive package, gold prices could fall further, says Anuj Gupta. On the other hand, if the incentive package is delayed or not issued, gold prices may again rise. Gupta says gold could reach 52,000 rupees in the next one year. He says gold is expected to reach Rs 50,000 per 10 grams by Diwali.
.
