In the last 15 days, the price of gold in MCX has increased by 6%, from 46 to 47,000 rupees per 10 grams. Internationally, gold rates have risen 4% to $ 1781 an ounce.
Will the price again reach 56,000 rupees per 10 grams
The corona threat in India is increasing once again. Meanwhile, the trend of investors is again seen to be turning towards gold considered safe investment, due to which the prices of gold have also been seen increasing in the last few days. Experts say that many factories are supporting the rise of gold, due to which the gold boom can remain in the coming days.Also read: PNB Alert! Bank has cautioned its millions of customers! Do not forget this mistake, or else …
Experts say gold price will touch record level in 2021
Experts 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, they do not think that this situation will remain for much longer. Indian stock exchanges, including most of the world’s stock markets, have also gained a lot of momentum. Now the markets are witnessing a big fall due to profit booking in between.
As the stock markets go higher, the risk also 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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Know why the price of gold is increasing
An increase in the number of Kovid 19 cases, rising inflation in the US, low yields, weak US dollar and QE program by the US government have also strengthened gold prices. Rising cases of corona can affect the on-going economy. Nish Bhatt, founder and CEO of investment consulting firm Millwood Cane International, says gold prices may rise until the situation stabilizes.