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Kovid likely to be affected by renewables on gold market, suggests digital purchase

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New Delhi:

To buy gold in the country Akshay III This time despite the tradition of being considered an auspicious occasion Corona virus In view of the second wave of epidemic, there is a possibility of affecting the purchase of precious metal in the market. In such a situation, experts have advised interested investors to buy yellow metal instead of investing in digital or gold based securities. Experts also say that in the midst of the epidemic crisis, measures to increase the cash flow by the central banks continuously (bond buying program), tensions in West Asia, trade war between the US and China came in view of some factors. Gold prices are likely to remain high in the future.

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Nish Bhatt, CEO (CEO) and founder of investment consulting company Millwood, said, “People in the country prefer to keep gold and it is not a hidden thing and buying gold on the occasion of Akshaya Tritiya is considered auspicious. “He said,” But this time in the country, the purchase of gold may be affected due to the second wave of corona virus epidemic. In such a situation, investors and gold buyers are advised not to get out of these difficult times and to invest in gold in the form of digital or gold-based securities instead of physically buying gold. ”

“Gold is a strategic asset and Akshaya Tritiya provides an opportunity to look into it,” said Nirav Karkera, head of research at digital asset management platform Fisdom. Every investor should invest in gold to diversify the investment apart from equity and bonds. This not only avoids the risk posed by inflation, but also protects from the systemic market risk with a fall in the exchange rate of the currency. ”However, he also advised that buying gold as a jewelery if there is not much need should avoid. This saves the fee for making jewelery. Investing in digital gold is a better option as it gives purity and freedom from the hassle of keeping.

Rahul Gupta, Head of Research (Mudra), Emkay Global Financial Services said, “… on the occasion of Akshay III, there is a general demand for gold purchases. On the whole, the price of MCX gold is seeing a boom in the US with weak job data. “Regarding the gold scenario, Motilal Oswal Financial Services said in a market report that the rise in corona virus cases, the economy continues to grow. Considering some factors such as cash infusion measures (bond buying program), inflationary pressure in West Asia, trade war between US and China, the perception of gold in the coming years will be strong and its price will remain high. There is a possibility.

Gold Price Today: Gold prices may rise due to these two reasons, check the current rate

Regarding this, Bhatt said that at this time the price of gold remains high due to the softening of the US dollar and the possibility of interest rate being down in the US for a long time. Gold is at a three-month high in the international market and remains at around Rs 48,000 per 10 gram level in the domestic market. “The price of gold is expected to go up, with the vaccination campaign, reduction in the number of infected, lockdown in various countries of the world, and the fall in the value of the US dollar,” he said.

Gold sales rise on the occasion of Akshaya Tritiya

(This news has not been edited by the NDTV team. It has been published directly from the Syndicate feed.)

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