Gold prices fall …What is the forecast of experts ..!
Will the price of gold touch the peak again as experts say? Will it touch last year’s peak? So many questions have arisen. This is because on the one hand there are many positive factors for the fall in the price of gold, but the number of mutated new types of corona infection has started to increase in many countries. For India in particular, the third wave is expected to peak in August and September. Meanwhile, it is expected to support gold prices.
Concerns about the economy
The economy, paralyzed by the first wave and the second phase of corona spread, is in question, with fears of what the third wave will do. Meanwhile, many rating agencies are lowering their economic growth forecasts for the current fiscal year. This has caused fear among investors.
The transformed new type of corona
While it is questionable to what extent the vaccine will go a long way in saving people from the new type of corona that has been transformed, on the other hand, vaccination for all in a country of millions of people is seen as something that is currently practically impractical.
Demand may increase
However, there have been several relaxations in restrictions in the country. Meanwhile, the demand for gold is no longer expected to increase. In addition, as economic growth is questionable, investment demand for gold is expected to increase
COMEX Gold Price Status
The price of gold in the international market has seen a slight rise from time to time over the past week but has continued to decline. It started at $ 1811.60 last Monday and touched a high of $ 1825.90 on Tuesday. The stock traded lower at $ 1789.10 on Friday and ended at $ 1801.90. It may depend on the start of the coming week and tomorrow
COMEX Silver Price
While the price of gold has risen, the price of silver has fallen over the past week. It started at $ 25,700 last Monday and went up to a high of $ 25.805 that day. It touched a low of $ 24,790 on Wednesday. However, in the end, it touched $ 25.235. The price of silver may also be this week depending on the start of tomorrow.
MCX Gold Price Status
For the Indian market, gold touched a high of Rs 48,295 on Tuesday, up from Rs 48,083 per 10 grams in the opening trade on Monday. However, it touched a low of Rs 47,300 on Friday and ended at Rs 47,534. This is down from Rs 8900 when viewed from its peak last August. So it is seen as a good opportunity to buy in the long run. Anyway, medium-term traders can buy depending on the start of tomorrow.
MCX Silver Price Status
The price of silver in the Indian market started at Rs 68,121 on Monday and touched a high of Rs 68,121 that day. However, it touched a low of Rs 66,286 on Tuesday and ended at Rs 67,024 on Friday. However, the silver price touched 77,700 rupees last August, down more than 10,000 rupees. So while it may seem like the perfect place to buy in the long run, the medium-term can be bought depending on the start of tomorrow.
Jewelry gold prices in Chennai
Jewelry gold prices in Chennai saw a 3-day high and a 2-day decline this week. 2 days also saw a change. Last Monday, it was sold for Rs 36,368 per razor. Today it is selling at Rs. 4,506 per gram and Rs. 36,048 per gram without any major change. It peaked at Rs 43,600 last August. In comparison, it costs less than Rs 7,500 per razor. So it is seen as a good opportunity for jewelry enthusiasts and middle-class people to buy gold
