If you want to buy gold, stop, the price can come down to Rs 42,000, these are the big reason - Newztezz Online


Monday, December 14, 2020

If you want to buy gold, stop, the price can come down to Rs 42,000, these are the big reason

The good news of the corona vaccine is coming amid the corona epidemic. 
Amidst this good news, gold prices have been steadily declining. Gold prices have been falling steadily for the past three months. However, from time to time the price of gold and silver also rose. Overall, the demand for gold and silver has increased during the wedding season, but gold prices have continued to fall sharply. The last trading day of the week on Friday also saw a decline in gold prices. Gold prices fell in gold bullion markets on Friday. Gold prices fell on Friday compared to Thursday and the spot price of 24 carat gold fell by Rs 94 to Rs 49097 per 10 grams.

The first week of December is a little better for gold

The first week of December was a little better for gold, as the month of November saw a decline in gold prices. Overall, gold prices rose by about Rs 490 per ten grams in the first week of December, while silver prices rose by about Rs 3,000.

The Delhi bullion market also declined

At the Delhi Bullion Market, gold fell by Rs 102 to Rs 48,594 per 10 grams on Friday. In the previous trading session, gold for delivery in 10 grams closed at Rs 48,696. Silver also declined marginally by Rs 16 to Rs 62,734 per kg. The previous closing price was Rs 62,750. In the international market, both gold and silver traded unchanged at 1, 1,836 an ounce and 23 23.92 an ounce, respectively.

Gold hit an all-time high of Rs 56,254 per 10 grams in August

Significantly, gold reached its highest level of Rs 56,254 per 10 grams in August. On this day, silver also traded at Rs. Reached 76008 per kg. But it has dropped significantly since then. Gold closed at 49,290 per 10 grams on Friday. Thus, it has come down from the record level to Rs 6964. Similarly, silver declined by Rs 12,408. On Friday, silver touched Rs. Closed at a price of 63600 per kg.

The price of gold may fall by February

According to bullion market experts, the arrival of the corona vaccine will boost the stock market as well as increase gold sales. Holding of gold is declining, which will lead to a fall in prices and gold could fall to Rs 42,000 per 10 grams. According to bullion market experts, by February 2021, the price of gold may fall to around Rs 42,000 per 10 grams, while the price of silver may touch Rs 62,000. Gold prices have fallen by Rs 4,000 in the last three weeks. Significantly, gold was trading at Rs. Reached 56,200. Which was the highest level of gold.

So this is the reason why gold is getting cheaper

Corona vaccine is also the main reason behind the fall in gold prices. The joy of corona vaccine is also being seen in the stock market. Due to the boom in vaccines, investors are withdrawing money from gold and putting it in the stock market and other investments, which has led to the sale of gold. Gold holdings are declining, leading to a decline in gold prices.

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