fall in gold prices
This is the right opportunity to take advantage of the continuous fall in gold prices. On the last trading day on MCX, gold prices fell by Rs 318 per 10 grams to close at Rs 48,880.
New Delhi: This is the right opportunity to take advantage of the continuous fall in gold prices. At this time you can earn good profits by investing in gold or buying jewellery. At this time, if you buy jewelery for marriage as well, then you will get a chance to buy gold cheaply. Let us tell you that today being a Sunday, the Multi Commodity Market (MCX) is closed. At the same time, on the last trading day, gold prices fell by Rs 318 per 10 grams to close at Rs 48,880.
Apart from this, if we talk about silver, then on the last trading day, the future trade of silver in July was closed at Rs 72,328.00 with a rise of Rs 217.00. Apart from this, gold was traded with a fall in the last trading session.
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There was also a decline in the global marketGold trading in the US was down by $ 21.21 to close at $ 1,876.87 an ounce. At the same time, silver trading closed at $ 27.92, down by $ 0.04.
Can go up to Rs 53500 in December
According to the news of Money Control, market players say that gold prices are going through a period of consolidation and further it can touch the level of Rs 48,500 per 10 grams. Bullion experts say that in any fall one should invest in gold. Gold can touch the level of Rs 53,500 per 10 grams by the end of December 2021.
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Anuj Gupta gave buying advice
Anuj Gupta of IIFL Securities also says that the outlook for gold remains positive from medium and long term perspective. Investors should maintain a buying strategy on the downside. Anuj Gupta says that by Diwali in the domestic market, gold prices can touch the level of Rs 53,500. He said that after July 15, 2021, a rally in gold may be seen, which may remain at its peak from Diwali till the end of this year.