16.1 C
Wednesday, December 1, 2021

Gold Investment: Gold prices can rise sharply after the fall, is this the right time to buy?

Gold prices expected to rise, right time to buy?

The demand for gold increases during the festive season. Therefore, its price (Gold Price) starts climbing. Gold prices in the country have been rising continuously for the last few days. But will its prices fall after the festive season? The question is, is this the right time to buy gold or wait for the festive season to end. On Saturday, the price of gold fell by 1.40 percent in the Multi Commodity Exchange and it came to Rs 47,213 per ten grams. But its prices in the spot market have been increasing continuously for the last few days. On Saturday, the price of gold in Delhi was Rs 47,070 (22 carat) per ten grams. Its prices have increased by more than Rs 1000 in the last five days. Therefore, investors may feel that this is the right time to buy gold and it may become more expensive going forward.

Know why gold can be expensive?

Anuj Gupta, Vice President, Commodity and Currency Trade at IIFL Securities, says that due to rising crude oil prices, inflation is increasing worldwide. Along with this, there is a weakness in the rupee against the dollar. Its condition is likely to remain the same in future also. It is clear that gold will be expensive due to the cost of dollars. Investors all over the world invest in gold to hedge against inflation. That is, seeing the rise in inflation, the investment in gold keeps increasing.

Anuj Gupta says that investors should take advantage of the immediate fall in gold (MCX Gold) in the commodity market and increase buying in gold. Gold prices are also increasing in the spot market. It may increase further in the future, so buying gold at this time can be a profitable deal for investors. In India, the price of gold increases during the festive season anyway. After this the season of weddings will start. Therefore, there is less scope for reduction in the price of gold till March-April.

Petrol-Diesel Price: Petrol-Diesel fire again in inflation, oil companies increased prices even today

Gold imports increase but not likely to become cheaper

In view of the decrease in the prices of gold in the past, its demand had increased. Gold imports in the country increased by 658 per cent to 91 tonnes in September, while only 12 tonnes of gold were imported in September last year. However, it is showing a base effect due to a sharp reduction in gold imports. In fact, due to the cheaper gold and the increased demand for the coming festive season, jewelers have increased their purchases. It is clear from these circumstances that the demand for gold will continue in the coming times and its prices will not go down. Therefore, this can be the right time to buy gold.

Get Business News ,, latest India News ,, and other breaking news on share market, investment scheme and much more on Business Khabar. Like us on Facebook, Follow us on Twitter for latest financial news and share market updates.


Nisha Chawlahttps://www.businesskhabar.com/
She is an expert in Banking, Finance and working with an international bank. She sharing her ideas and knowledge with Business Khabar.
Latest news
- Advertisement -
Related news
- Advertisement -