The price of the precious yellow metal has fallen by Rs 12,927 from Friday August 26, 2021 to Rs 44,081 per 10 grams. At the same time, silver was at Rs 77,840 per kg on 7 August 2020, which was reduced by Rs 13,564 to Rs 64,276 on last Friday. Meanwhile, due to the continuing upsurge in the prices of gold and silver every day, investors are in a tizzy whether they should invest in gold or wait for something else. At the same time, some investors are confused about selling or holding the gold they have. Let us know what trend can be there in gold in the coming time and if you invest now, it will bring profit or you may have to take a loss?
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Gold price will touch record level in 2021Experts say that as the worldwide corona vaccination campaign is gaining momentum, people are turning to other investment options. Due to this, there has been a fall in the prices of gold. However, he does not think that this situation will remain for long. Indian stock exchanges, including most of the world’s stock markets, have also gained a lot of momentum. Now, there is a big fall in the markets due to frequent profit booking. As the stock markets go up, the risk increases along with the profits. In such a large number of investors will then turn to the safest investment option gold. This will support gold prices and they will start moving upwards again. Experts believe that based on the data of previous years, the prices of gold are also set to increase in 2021. It is estimated that in 2021, gold prices will cross the level of Rs 63,000, setting a new record.
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Can you get strong profits in the long term?
There is also a large section of investors, who want to know whether it will be safe to invest in gold at current prices. Can they take advantage of this opportunity and make a strong profit by investing for a longer period. On this, experts say that there are many reasons for the current fall in gold prices. The biggest reason among these is the acceleration in the vaccination drive of Corona vaccine, the good news about new vaccines and the increase in economic activity. At the same time, the prices of gold are also being affected by the dollar being stronger against other major currencies. According to him, the US dollar and gold behave unlike each other. If the demand for the dollar increases, then the price of gold will come under pressure.
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Gold will reach $ 1960 an ounce soon
Economic activity is also accelerating as the corona vaccination increases. In such a situation, people are turning to more risky investment options. These include options like equity and cryptocurrency. Where the Government of India is taking strict action regarding cryptocurrency. At the same time, there has now started a sharp upsurge in the equity market. At the same time, the fall in gold prices is temporary and short-lived. Hence, investors can earn strong profits in the long term by investing in gold at current prices. According to experts, gold may soon touch a high of $ 1960 an ounce.