Trending news: Gold Investment: Bet on gold in Pitru Paksha and earn Rs 2,347 for every 10 grams till Diwali! – Hindustan News Hub
The price of gold is going down by about 7 thousand rupees from the record price of last year.
By December, it can even cross Rs 52,000 per 10 grams.
If the bullish trend continues, there will be a profit of Rs 5,847 per 10 grams of gold in a year.
New Delhi. There is currently 15 days of Pitru Paksha going on in the country and during this time auspicious works remain closed according to Indian tradition, which also affects the purchase of gold and silver. This is the reason that the price of gold is also coming down in the futures and spot market. Experts say that the current sluggish gold movement will gain momentum as soon as the festive season begins.
Ajay Kedia, director and commodity expert of Kedia Advisory, says that right now the factors of both fall and rise in gold are working together. In the global market, gold is running according to the earlier rules. If we talk about futures and spot price in the Indian bullion market, then there is pressure on both the rates. The futures price of gold on MCX was Rs 49,153 around 9 am on Wednesday. It is running about 7 thousand rupees below the record price of last year. Apart from the Pitru Paksha, this price is also affected by the global market, where the spot price of gold has come down from $ 2,000 last year to around $ 1,600.
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where will the price go next
Ajay Kedia said, Navratri is going to start from next week, due to which the beauty of the customers will also increase in the market. As soon as it is over, Dussehra and then two weeks later big festivals like Dhanteras-Diwali will also come. In such a situation, the purchase of gold and silver is also certain to increase. If we look at the demand and environment coming from today’s price, then till Diwali, the price of gold can go up to Rs 51,000 to Rs 51,500 per 10 grams. By December, it can even cross the 52,000 mark. Weddings are also going to take place in large numbers this year, due to which if the demand increases, gold will touch the price of 55 thousand per 10 grams in a year.
how much earning in a month
If gold touches the level of Rs 51,500 per 10 grams by Diwali, then investors investing in gold now will earn a profit of Rs 2,347 for every 10 grams in a month. If this investment is maintained till December and the price of gold reaches 52 thousand, then the profit will also reach Rs 2,847 per 10 grams. If you invest in one kg of gold, then you can earn a profit of Rs 2,84,700 till December. There is talk of gold going to 55 thousand within a year. If this rise happens, then in a year, there will be a profit of Rs 5,847 per 10 grams of gold, while by December this profit can be Rs 3000 per 10 grams.
Reasons for price hike
Although there are many reasons for the increase in the price of gold, but if interest rates increase more in tonight’s meeting of the Federal Reserve, then the possibility of a rise in the price of gold will increase again. It is believed that the Fed Reserve is in the mood to increase interest by 0.75 percent this time. After this, the effective interest rate will reach 3.25, which will be the highest in the US in a decade. If you look at the trend of increasing the interest of the Fed, then in 2022 whenever the Fed increased the interest, there was a jump in gold. This time too, gold will be faster if the interest increases.
Inflation is also supporting gold. It is reliable and investors invest money in gold whenever they see a fall in the market. The global market is still surrounded by the fear of recession and there is a big correction ahead. Gold will get its direct benefit. After spending the last two years in the shadow of the epidemic, this time people are getting a chance to celebrate the festival fiercely. Therefore, the number of weddings will also increase in the year, due to which the demand for gold will increase and will accelerate.
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What are bullion traders called?
Yogesh Singhal, Chairman, The Bullion and Jewelers Association, Delhi, says that the bullion market is currently under pressure and further decline is expected. He said that gold has already climbed a lot more than its value and now it is its turn to come down. The government has also put pressure on it by increasing the import duty. The sale of gold does not seem to be increasing very much. Yes, it can be between 48,000 to 52,000, but it is more estimated that its price is 40 to 45 thousand.
Will go between
Tags: business news in hindi, Diwali, gold investment, Gold price, Money Making Tips, silver price
FIRST PUBLISHED : September 21, 2022, 15:23 IST
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