Talking only about the month of March, the price of gold has fallen by Rs 2238 per ten grams so far. At the same time, since January, gold prices have fallen by about Rs 5870.
As soon as the wedding season comes, people keep an eye on the price of gold. There has been a downward trend in the price of gold for the past few months. If we look at it from August till now, the price of gold has dropped by more than about 11000 rupees. Since now the wedding season is going to start from the month of April. So, save you that there is good news for you in the wedding season, because gold has become cheaper by about 2238 rupees in just one month.
In the coming time, it is believed that its prices can be seen more stir. Market experts believe that in the coming days, gold level can come to Rs 42500 per ten grams. In the last one week, the decline in the spot price of gold has been recorded by about 183 rupees.
Gold became so cheap in March
Talking only about the month of March, the price of gold has fallen by Rs 2238 per ten grams so far. At the same time, since January, gold prices have fallen by about Rs 5870. Now since the wedding season is starting from the month of April. In such a situation, there is good news for those who are going to get married in this season. Gold prices have come down from their all-time high of Rs 11922.
Mutual funds are withdrawing money despite the stock market boom; 8th consecutive month selling
Prices can go up to Rs. 42500
According to Ajay Kedia, MD of Kedia Commodity, many factors of gold prices are coming down. A 2.5 percent reduction in import duty was announced in the budget, which is directly impacting the gold and silver market. At the same time, there has been a strong profit booking in the last few days from the Gold ETF. Its effect is also being seen on jewelry. According to Kedia, in the coming days, the gold label can come to the level of 42500 in the domestic market.
Bitcoin also became the reason
For the past few months, a strong rise was seen in the prices of cryptocurrency, especially bitcoin. The main reason for this was that people were withdrawing money from gold investment and investing in other places. A lot of money was spent in this. Due to which, the glow of gold has faded.
