In the last trading session in Delhi bullion market, 24 carat gold closed at Rs 44601 and 23 carat Rs 44422. At the same time, silver opened at Rs 66480 with a strength of Rs 110 per kg. Experts say that gold prices have come down due to improvement in global economic outlook.
Gold prices may fall further
Experts believe that the weakening of gold prices may not be for long. Weakness in the dollar, rising inflationary pressures and monetary expansion have had a direct impact on the gold price.Know how much can be cheaper
Analysts are assuming that there will be a further decline in gold. It is believed that gold may fall to $ 1500 an ounce, after which it will show stability. That is, if seen in Indian rupees according to this, gold can fall below 40000 thousand.
Also read: Your digital currency will come in the country, will help to prevent bank fraud …
Invest or not?
It is a good time for an investor to invest in gold, says Chintan Hariya, Product Development and Strategy Head, ICICI Prudential AMC. Last year too, gold returns were around 25 per cent. If you are investing for long term then gold is still a very safe and good option for investment, which gives excellent returns. However, experts are assuming that gold can go below the level of 40 thousand, so you can wait a few more days.
Investors showing interest in gold ETFs
Investors continue to have a fascination for gold ETFs. In February this year, he made a net investment of Rs 491 crore in Gold Exchange Traded Fund (ETF). Investors are increasing investment by taking advantage of low rate in the domestic market due to lower prices in international market, increase in exchange rate of rupees and decrease in customs duty.
According to the data of the Association of Mutual Funds in India, earlier in January, investors had invested a net Rs 625 crore in gold ETFs and Rs 431 crore in December. Earlier, there was a withdrawal of Rs 141 crore in gold ETFs in November. Continuing investment in gold ETFs shows that there is increasing acceptance among investors about investing in this product in the form of gold.