Global economic and political instability has created a huge impact and change in the investment market. As a result, investors invested large sums of money in gold to protect their investments, so the price of gold started to rise both domestically and abroad.
As a result, the gold price has crossed the 61000 rupee mark in the Indian market like never before. Internationally, the change in the investment market following the decline in employment in the United States pushed the dollar on a downward path, and to offset this, investments in gold rose sharply.
In response, the rupee rose 33 paise to close at 82 against the US dollar in Wednesday’s trade. In yesterday’s trade, the rupee weakened against the dollar against most of the world’s currencies. It is no exaggeration to say that the decline in the dollar is a big boost to the Indian market.
But it is true that this is not the only reason for the rise in the price of gold, the criminal case against former US President Donald Trump and his arrest, and the disruption in investments in the stock market due to the increase in interest rates by central banks are the main reasons for the rise in the price of gold.
In the international market on Wednesday, the price of gold rose up to 2031 dollars an ounce, causing great impact and impact, which opened at 2008 dollars in the morning trade on April 6. This will reverberate in the Indian market as well, and with trading markets in many countries around the world closed on Friday due to Good Friday, the rate of gold price rise will slow down significantly.
10 gm 24 carat gold price for June order fell by 0.38 per cent to Rs 60,622.00 at the opening of MCX market this morning. Similarly, silver prices fell by 0.36 percent to Rs 74,285. At this stage the best decision for investors is to wait and invest, there is a high possibility of excessive volatility in gold prices for the next 6 to 8 months.
The price of 24 carat 10 gm gold in the retail market reached an unprecedented level of Rs 62,800. Don’t forget that this is the selling price in the retail market today, inclusive of GST. Market research also suggests that the price of gold is likely to rise to Rs 2075 in the next few days.