gold price review will gold rate near rs 45000 per 10 gm stock market has reached the level before corona

Markets seem to be recovering from the decline in the stock market worldwide due to the corona virus epidemic. Most of the stock markets have reached or are around the pre-corona era. At the same time, gold prices continue to fluctuate. In the bullion market, gold has become cheaper by its all-time high till September 30 at Rs 5684 per 10 grams. At the same time, silver has lost Rs 16034 from its peak of August 7. So will gold be able to come around the pre-corona period i.e. Rs 45000 per 10 grams? If you feel that gold will become cheaper and faster in the stock market, then your guess may also be wrong, believes the expert.

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Fluctuations may continue

Navneet Damani, vice-president, commodity research, Motilal Oswal Financial Services, said that in recent times, gold has fallen from a high in the range of Rs 50,000, while silver has come in the range of Rs 60,000. In the coming times, these fluctuations may continue. On the ups and downs, Ajay Kedia, director of Kedia Capital, says that the Stimulus package made steroids for the stock markets. The rapid growth that this has caused, cannot be called natural fast. Markets started falling when the Corona epidemic hit India.

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Ajay Kedia explains in this way, in 2007 gold was around 9 thousand rupees per ten grams, which in 2016 reached 31 thousand rupees per ten grams. That is, more than three times increase in nine years. It has to be understood that whenever interest rates fall, then investment in gold increases. Growth occurs in cycles in gold. Bicycle from 2008 to 2013 or from 2018 to now. Gold rates have not increased suddenly. It started picking up from September 2018. If you understand the period from 2008 to 2013, you will find that the situation today is not very different.

Gold and Sensex move from January to September


Gold Price Rs / 10g

January 2020 41000 40,943
3 April 2020 43936 27,590
24 February 2020 44,472 40363
15 May 2020 47067 31,097
31 July 2020 53743 37,606
7 August 2020 56254 38040
30 September 50442 38,067

The fall in gold prices is due to the strengthening of the rupee in the last two months. The rupee is currently in the range of 73-74 rupees per dollar. 76-77 per dollar reached a few months ago. This has also reduced the price of gold. If the dollar rises, then in the long term, gold prices will rise more rapidly. That is, gold can reach 60 to 70 thousand rupees per ten grams by next year.

All records were broken in August

All Time high Gold price

Gold spot opened at 56254 on August 7, 2020 in bullion markets across the country. It was an all-time high. After this, it closed at a level of Rs 56126 per 10 grams after a slight decline in the evening. As far as silver is concerned, on this day it opened at a rate of Rs 76008 per kg and closed at Rs 75013. The price of silver on MCX jumped to a record Rs 73,600 per kg on 25 April 2011, while the silver price in the spot market reached Rs 77,000 per kg in 2011. Gold price on March 16, 2020 was Rs 38,400 per 10 grams.


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