- Gold has become cheaper by Rs 7000 in 50 days, silver has seen a decline of 23 thousand rupees
- Interest rates will remain in America for the next three years. Economic data will also support gold prices.
- Right time to gold investment, will give more profits in future
Investment in Gold
There has been a period of decline in gold and silver. Since August, there has been a huge decline in gold and silver. Especially since August 7, gold and silver have become cheaper by more than 12 per cent. According to experts, this decline can be seen further. Gold and silver can come at a level where everyone has access.
In such a situation, the expert says that now that the time has come to invest in gold once again, the profits will be seen more in the coming days. The reason for this is the global economy figures, USA, Europe and British banks cutting interest rates. The benefit of which will be seen in both gold and silver. Let us also tell you at which level gold and silver can go and where can start the purchase.
Gold and silver will be cheaper now
According to Anuj Gupta, deputy vice president (commodity and research) from Angel Broking, the price of gold may see a further decline. This level can be between 47 thousand and 48 thousand. Talking about silver at the same time, there is a possibility of silver-level coming between 53 thousand and 56 thousand. This is why profit booking. According to Anuj Gupta, the October expiry of gold on MCX is about to end.
After which the December expiry will start. This December expiry will also bring Deepavali. In such a situation, the selling environment is being seen in an attempt to bring gold to the Sartain level and keep more and more money in hands. The effect of which is also being seen on silver.
Best time to Buy Gold
There has been a lot of shopping in gold during the Corona period. The benefit of which investors are getting by booking profits. Because of which prices are falling. If you have failed to earn profits in the first phase of shopping, then you are getting a chance once again. Gold can once again come to around 47 thousand. From where you can invest in gold. On the other hand, if you want to invest in silver, then you should wait for the price to come up to 53 thousand. The kind of environment that has been created in the market can be seen. After that, you can invest in gold and silver at a lower price.
Investment Can be a big advantage
According to Anuj Gupta, one can see a rally in gold and silver again by November-December. Which is likely to start in Navratras. In fact, this year is more than a month after the end of Pitrupaksha, which does not create a shopping environment. In such a situation, investors are waiting for Navratri and beyond. By December gold can reach around 61 to 65 thousand. At the same time, the price of silver is expected to reach 85 to 90 thousand. In such a situation, you can easily guess how much benefit you can get from the investment made in the coming days.
What are the reasons?
According to experts, the US Fed Reserve has given a clear indication that it can keep interest rates at the jeers level for the next three years. At the same time, European markets and British banks are also hinting at a big cut in interest rates.
Due to this, gold and silver will get support. On the other hand, the kind of data coming from the US and the global economy, gold and silver will also be supported. At the same time, pictures of the second wave of coronavirus have started appearing in Europe. At the same time, there are no chances of vaccine arrival this year. Due to which the price of gold and silver will be seen.
Gold and silver fall today
Slightly correct, but both the gold and silver are falling in the Indian futures market. First of all, in October gold contract is trading at Rs. 49837 per ten grams, down by Rs. 67 per ten grams. While gold opened at Rs 49826 today, it had touched a low of Rs 49725. On the other hand, silver is trading at Rs 59400, down by Rs 229. Today silver opened at Rs 58320 and reached a low of Rs 59076.
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