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  • After 3 Days Of Cheap, Gold Became Expensive Again Today, So Far This Month It Has Become Expensive By 2800 Rupees.

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New Delhi8 hours ago

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After 3 consecutive days of low gold prices, they have increased again today. Today, gold has risen by Rs 166 to Rs 47,027 per 10 grams. Although gold on MCX is still earned today. Gold was trading here at around 4:30 pm at Rs 46,905. On the other hand, according to the website of the Indian Bullion and Jewelers Association, today it has become expensive by Rs 867 and has reached Rs 68,567 per kg.

In April, gold became costlier by 2800 rupees and silver by 5700 rupees.
In April itself, gold has become costlier by 2,837 to reach 47,027. It was at Rs 44,190 as on 31 March. At the same time, silver has also become expensive by Rs 5700 in April. Now on March 31, when the market was closed, silver was at Rs 62,862 per kg, which has now reached Rs 68,567. Experts expect further rise in gold in view of the increasing outbreak of Corona in the country.

Gold can go from 55 to 60 thousand
Anuj Gupta, Vice President (Commodity and Currency), IIFL Securities, says that due to Corona, there is an uncertainty around the world. In such a situation, gold can be benefited. In the coming months, gold can again reach 55 thousand. Ajay Kedia, director of Kedia Commodity, estimates that if the same trend prevails, gold can reach 60 thousand rupees in the next 5 to 6 months i.e., Diwali.

Investing in gold will be right this time
Harsh Vardhan Roongta, CFP and personal finance expert at Rungta Securities, says that if the current trend in gold continues, the gold may reach 55,000 by the end of May. Right now, most things are in support of gold due to corona. In such a situation, if you want better returns, then you can invest in it.

Why is gold getting expensive

  • Due to Corona, there is an atmosphere of uncertainty around the world. Its stock market is fluctuating more. It is believed that during this time investors withdraw money from stocks and invest in gold. Gold prices also start to rise from this.
  • The dollar is weakening in the international market. Not only this, the rupee has also weakened against the dollar. Gold is also getting support from this.
  • With the approval of banks to import gold in China, gold and silver may see a boom in the coming days.
  • In the international market too, the price of gold has started increasing rapidly. The price of gold has crossed US $ 1,773 an ounce. On April 1, gold stood at US $ 1,730.
  • Retail and wholesale inflation figures have also hit an 8-year high. Due to which gold and silver are getting support.

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