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    Home » Gold and Silver Outlook: Gold and silver shine in the battle of Russia and Ukraine, market experts gave investment advice at this target price
    Money

    Gold and Silver Outlook: Gold and silver shine in the battle of Russia and Ukraine, market experts gave investment advice at this target price

    Business KhabarBy Business KhabarMarch 2, 2022Updated:June 3, 2022No Comments
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    Gold and Silver Outlook: Gold and silver shine in the battle of Russia and Ukraine, market experts gave investment advice at this target price
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    Gold and Silver Outlook: Due to the attack on Ukraine, Western countries are continuously imposing sanctions on Russia, due to which the luster of gold and silver is increasing.

    Gold and Silver Outlook: Due to the attack on Ukraine, Western countries are continuously imposing sanctions on Russia, due to which the luster of gold and silver is increasing. Investors are looking for safer options as Russian President Vladimir Putin is expected to approve nuclear strikes. In such a situation, market experts believe that buying in gold and silver is increasing and its prices may continue to rise. In the coming days, gold can reach the level of Rs 52400 and silver Rs 70 thousand.

    After the announcement of new sanctions on Russia, gold rose 2.06 per cent to Rs 51816 on MCX (Multi Commodity Exchange) on Tuesday and silver also rose by 3.46 per cent to Rs 68179. Talking about the international market, gold reached the price of $ 1950 (Rs 1.48 lakh) per ounce (1 kg = 35.3 ounce) and silver at $ 25.10 (Rs 1903.14).

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    Hence the bullish trend in gold and silver

    • Russia has carried out the biggest attack on any European country since World War II, due to which the situation on the global level is changing rapidly. Russia is being banned by Western countries and preparations are on to isolate Russian banks from the globally important SWIFT payments network. In such a situation, Russia’s central bank has increased the purchase of gold from the domestic market from February 28 in order to maintain financial stability after the sanctions imposed by Western countries.
    • According to the report of Kedia Commodity, Indian dealers are offering the highest discount in the last 17 months because due to the sharp jump in gold prices, they are reducing or negligible buying physical gold. Most of the Asian customers are giving priority to making profit by selling gold instead of buying it. Although technically the trend of buying is now visible in the market again.
    • The US Fed is preparing to normalize its monetary policies, that is, rates may increase. Due to the Corona epidemic, the Fed reduced rates so that economic activity could be brought back on track. Now in view of the possibility of increasing rates again, there is a possibility of a rise in gold and silver.
    • Western countries are imposing sanctions against Russia, due to which fears are being raised on the front of global growth and inflation. Because of this, there is a rise in gold and silver.

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    Advice for investing in this target price

    According to Anuj Gupta, Vice President, IIFL Securities, gold and silver are currently being seen as a safe investment option. One can invest in gold at a target price of Rs 52400 by placing a stop loss of Rs 50900 at a price of Rs 51500-51600. On the other hand, talking about silver, investors can invest in it at the target price of Rs 69500-70000 by placing a stop loss of Rs 67 thousand at the level of Rs 67700-67800. According to Anuj Gupta, gold can soon touch the level of $ 1965-1980 (Rs 1.49-1.50 lakh) and silver $ 27-30 (Rs 2044.90-2272.11) per ounce.

    (Disclaimer: Investing in the commodity market is risky, so please consult your advisor before investing.)

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