Gold Price Today: Gold has become 11,000 cheaper than the all-time high, why are the prices down? What is the trend ahead?
On Thursday, the price of gold in Delhi bullion market softened by Rs 217 to Rs 44,372 per 10 grams. Gold had closed at Rs 44,589 per ten gram on Wednesday. Like gold, silver also slipped down 1,217 to Rs 66,598 per kg. The price had closed at 67,815 a day earlier.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “Despite the fall in the rupee exchange rate, the 24-carat gold spot price in Delhi market has come down by Rs. 217, driven by the fall in the price of this metal in the futures market in the previous day.” is.’
Today, if you look at the rate of India Bullion and Jewelers Association Limited ie IBJA, then the price of gold is something like this (These prices are stated per gram without GST charge).
24 carat – 4,484
22 carat – 4,332
18 carat- 3,587
14 carat – 2,982
Why have the prices fallen and what will happen next?
According to HDFC Securities, the intensification of the vaccination campaign to curb the Kovid-19 epidemic has boosted investor morale in the market and prompted them to bet on assets other than gold, which is considered safe for investment. . He said that investors want to go out of gold and take risk in other investments. Due to this, the demand for gold has reduced, due to which the prices have come down.
What will be the trend of gold next, is also a question. There is speculation whether gold has touched its lows or will it come down further? Talking to NDTV, PP Jewelers chairman Pawan Gupta said, ‘The market momentum which was there before the Corona period is no longer there. But in the meantime, shopping has increased. Because of the prices that have come from 58 thousand to 45 thousand, it has come two or three days ago. Because of which people are not aware of it. I understand that in the coming time, the purchase of gold will increase more than before.
If the purchase increases, that is, the demand for gold will increase, the prices of gold may increase if the demand increases. Although there is a positive sentiment in the market regarding economic recovery, but then there is a lot of uncertainty, which may affect the prices of bullion.