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Thursday, 24 September 2020

Inverted gold move:The gold is worth Rs. 80,000 was expected to fall to Rs. Likely to be 48 thousand

Inverted gold move: The gold is worth Rs. 80,000 was expected to fall to Rs. Likely to be 48 thousand


Gold Rs. 50000 breaking the surface of Rs. Can come up to 48000-49000.

At the back of global markets, domestic gold is trading at Rs. 2500 decreased
Corona's declining impact, due to the rising dollar, reduced investment in bullion

In August, gold was trading at Rs 10 per gram. When it reached a high of 56,000, there were reports that gold was now trading at Rs. It Will reach the level of 80,000, but the weak position of the dollar and the impact of the Corona epidemic globally is slowly diminishing. 


This has led to a decline in gold in the international market due to lower investment in bullion and also in the domestic market. Experts believe that gold will touch Rs. 48,000 per ten grams.

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In a week, Rs. 2500 to reduce the
Vice-President Ahmedabad Jewelery Association liver Soni said that the domestic gold price on global markets. The level of 51,500 has been reached. In the last one week, Rs. Reduced to 2500. Last Thursday, gold was trading at Rs. Was 54,000. With prices falling, the jewelery market is showing a bit of a downturn and demand is expected to pick up, especially in the coming festivals.

The rally in gold and silver
has seen a slowdown in the domestic market due to high prices in addition to the recent break-even price and stockists have also seen a sell-off in hedge funds in the international market. According to Hitesh Somani, MD of Aapka Investment, gold is worth Rs. If the surface of 50000 breaks, the rally will break and the bottom will be reduced to Rs. Can come up to 48000-49000.

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Ashish Zaveri of the Jewelery Association said bullion prices continued to rise in global markets amid the Corona epidemic. Gold prices rose even though there was no demand at a time when there was a lockdown and everything was closed. Now that international gold has come down, gold is also going down in the domestic market. Gold rose ડો 23 an ounce to 188 1,884 on Wednesday amid signs that 
major investors in international markets are again diverting from safe havens to equities.

Read in Gujarati news 

The dollar
hit an eight-week high, said Nish Bhatt, CEO of investment consulting firm Millwood Kane International. The dollar index is at an 8-week high against other currencies in the basket. The Fed chairman told Congress in a statement that more government spending would be needed to sustain the growth rate, as more relief was crucial. One of the reasons behind the decline in gold is the fear of another lockdown in Europe.

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