Gold can climb up to 50 thousand, this is a big reason, gold becomes expensive by Rs 7000 per 10 grams in two months
With the Corona crisis deepening, the price of gold can reach Rs 50 thousand per ten grams this month due to increasing business tension between the US-China. The 24-carat gold price on the Indian futures market MCX reached a new record high of Rs 47,808 per ten gram in the June expiry contract due to strong signals from the international market on Monday. At the same time, in the international spot market, the price of gold reached the upper level of about seven and a half years. According to experts, the global economy is in the grip of a recession due to the outbreak of Corona. At the same time, trade tension between the US and China is increasing again, due to which the trend of investors’ gold has increased.
Also Read: Gold Price Today: Gold Created History; First Day Of Lockdown-4 Reached Near 48000, Big Bounce In Silver
Ajay Kedia, director of Kedia Advisory, said that the global economy is in the grip of recession due to the outbreak of coronavirus, while the trade tension between US and China is increasing again, which has increased the trend of investors towards safe investment gold. At the same time, Anuj Gupta, deputy vice president of Angel Broking, said that gold is the preferred investment tool of investors at this time because gold is a crisis partner *.
Gold costs Rs 7000 per 10 grams in two months
|17 May 2020||Rs 47,808|
|May 10, 2020||Rs 47,352|
|May 03, 2020||45,820 rupees|
|April 26, 2020||Rs 45,251|
|April 05, 2020||Rs 45,279|
|March 29, 2020||Rs 44,298|
|March 22, 2020||Rs 43,590|
|March 15, 2020||Rs 40,419|
(Per ten grams)
Jewelers are not worried about price rise
Dariba Jewelers Association President Tarun Gupta said that the lockdown has been relaxed in 4. In the coming days, Jewelsai will open their shop following the same guidelines. On the continuous increase in the price of gold, he said that this is not a concern. This has always happened with gold. Now when there will be less expense in wedding ceremony due to corona, people will buy more gold and silver. We are expecting good demand after the lockdown.
Boom in global market
In the global market, gold prices have been on the higher side for more than seven years on the international Comex. Comex was trading at $ 1769.10 an ounce, up $ 12.80, or 0.73%, from the previous session in gold in June contract, with the first price rising to $ 1774.95 an ounce. The July contract for silver was trading 2.98% higher at $ 17.57 an ounce.