Gold prices began to fall again. As compared to August last year, gold was priced at Rs 10,000 per 10 grams. Gold in the spot market is close to 46000. In such a situation, the question arises as to whether the price of gold will again fall below 45000 or cross 50000? Know our expert opinion on all these questions …
The effect of the third wave on the gold rate
Will gold fall below 45000? On this question, Ajay, director of Kedia Communications, says it is not. Since the announcement of the epidemic in 2020, there has been a sudden rise in the price of gold. In August 2020, gold rose from 28,000 to 56000. As soon as the gold price hit the 56000 level, the vaccine and vaccine news began to make a profit. Because of this the gold level has dropped to 45000-46000. This has happened before and is happening now. Corona says Corona is not finished yet. Now the third wave effect is seen in global and domestic markets.
The gold is thick as long as the corona
Counting other reasons why the price of gold should not fall below 45000, Kedia says gold will remain a safe investment until Corona ends. The economy of countries around the world is still not good. Tensions continue to rise in the Middle East, while tensions remain between the US and China over Afghanistan. This position supports gold. Looking at the work data, there was a slight increase in the dollar index, but still remained around 93. If the dollar declines, then gold rises.
To stimulate the economy, whether in India or the US or Britain or any other country, governments here are putting a lot of money into various packages, which affect inflation. Inflation is gold’s best friend. I mean, you understand it this way. The situation for gold is more or less the same this year as it was last year. The collapse of the gold price over the last two-three months is certainly scary, but investing in gold has benefits in the long run. This is because the bond yields also decline. The equity market is overvalued. In such a situation, people’s tendency towards gold may increase.
Gold Price Latest: Gold Price Rs 10000, 22 Carat Price Rs 42458, Silver Rs 11822
This is the right time to invest in gold
According to Ajay Kedia, this is the right time to invest in gold. If you are thinking of investing in gold for one or two months, you should stay away from it, but if you have been investing in gold for one and a half years, this is the right time. In the next six months, gold could break the 50000 level and within a year it would break the 54000 level. Better if you invest in gold as a SIP.
May continue until 2022-23
Kedia says gold will rise for the next two years. Because when you look at the record of the last 20 years, when gold rises, it will be two to four years. Be it the 2000 to 2004 boom or 2008 to 2011. This time the rise in gold came in 2020 and could last until 2022-23.
