new Delhi. If you have missed the opportunity to take advantage of the boom coming after the fall in gold, then this time Dhanteras can give you a chance to make money. If you look at the data from the last 8 years i.e. from 2012 to 2019, then in the month of November, there is a decline in the price of gold and silver. If you hold this belief, then this time also the price of gold and silver may fall in the month of November. Let us also tell you that according to historical figures, gold and silver rise and recover after falling in November and when can you make profit from gold and silver?
The month of November falls
Looking at the data for the last eight years, the price of gold is falling. There was a 1.42 per cent fall in the price of gold in 2019. Whereas in 2018 the price of gold was 4.75 percent. The highest fall in gold price was seen in 2015 and 2016. In 2015, gold became 5.40 percent cheaper in the month of November. Whereas in 2016 this figure was seen at 5.23 percent. In 2013, this figure was seen at 1.88 percent. Whereas in the month of November in 2011, gold became 6.28 percent costlier. Accordingly, the average fall in the price of gold in the month of November from 2011 to 2019 is around 1 percent. Due to which investors can get big benefit.
How cheap is gold and silver price in the month of 2011 to November
|year||Gold prices rise or fall (in percentage)||Silver prices rise or fall (in percentage)|
When can you take advantage
You can benefit from gold purchased in November after two months in January and February. Gold usually becomes expensive in January and February due to the wedding season. If you look at the data from the last five years i.e. from 2016 to 2020, then the price of gold has increased by 4 to 7 percent. In January, gold was costlier by 4,57 per cent in 2020. Whereas in 2019 this figure was 5.43 percent. Inflation of 4 per cent was observed in 2018 and 5.45 per cent in 2018. The maximum increase was seen in 2016 in January and 11 per cent in the month of February. Talking about the January average from 2011 to 2020, gold has become costlier by 2.47 percent and in February by 1.78 percent.
You can benefit in gold in these two months
|year||Profit in January (in percent)||Profit in February (in percent)|
This month is the most profitable
If we talk about the most profitable month, then it is the month of August. From 2011 to 2020, the price of gold has seen an average rise of 6.59 percent. Except in 2020 and 2016, gold has escaped in these 9 years. In the month of August in 2011, the price of gold was increased by 17.34 percent. Whereas in 2013 this figure was observed to be 24.35 percent. In 2019, this figure was around 10 percent. During this time, due to the high demand for gold, the price increases.
The highest profit this month
|year||Profit in August (in percent)|
Gold price will remain volatile
According to IBJA General Secretary Surendra Mehta, at present, there is a lot of volatility in the price of gold and silver. This time, compared to the rest of the years, the US elections, Corona virus, there are many such factors, so the price of gold and silver is causing great instability. I would like to advise investors to invest in gold as a SIP. Currently, there is no benefit of investing in the long term. He also stressed that after the vaccine, gold will be in the international market around $ 1700 an ons.
Currently, gold and silver prices
If we talk about today, then the Indian futures market is seeing volatility in the price of gold. Talking about the figures, at 6.40 pm, the price of gold was trading up by Rs 216 per gram and was trading at Rs 52271 per ten gram. While the price of silver is also seeing good rise. At the same time silver is trading at Rs 65,828 per kg in the futures market with a rise of Rs 1575 per kg.
Gold and silver in foreign market
On the US market Comex, gold has crossed $ 1950 an ons. It is currently trading at $ 1951.30 per ons, up by $ 4.50 per ons. While the price of silver is seeing a rise of 2.50 percent. Due to which the price of silver has reached $ 25.77 an ons. According to Kedia Advisory Director Ajay Kedia, the rise in the price of gold is not just a US election, but also a lockdown in European countries once again. Due to which gold and silver prices are increasing.