Why did Gold Price rise Sharply..!?

frame Why did Gold Price rise Sharply..!?

Sowmiya Sriram
Why did gold Price rise Sharply..!?

Gold prices have continued to peak in recent days amid the crisis in russia and Ukraine. As it continues to peak, there are fears that it may see a decline due to profit bookings in the coming week. Will there be profit booking amid the Russia-Ukraine problem? Will the price of gold see a decline? How will it be next week? Suspicion prevails. Experts say the medium-term target for gold could touch 1900-1910. However, it may see a slight decline and rise again if there is profit booking. Meanwhile, fears of inflation remain. Due to this, half of the protection may be in favor of gold. It is expected to be the best hedging against inflation. However, over the next 3-4 months the price of gold is expected to touch $ 2000. Meanwhile, gold prices in the indian market are expected to touch Rs 52,000 per 10 grams.
Maybe buy it for $ 1865 next week. It is seen as the perfect opportunity to buy in the long run. And if the price of crude oil continues to rise, and it continues to rise, it will lead to inflation. Overall the price of gold is expected to touch $ 1950 and $ 2000 respectively. The price of gold in the international market was slightly volatile at the beginning of last week. It started at $ 1862.20 last monday and touched a low of $ 1845.40 on Tuesday. This is the lowest price this week. It touched a high of $ 1905 on the same Friday. This is the highest price this week. However, it ended up at $ 1900.80.

The price of gold in the indian market has been rising since the beginning of last week, echoing the international market. gold started at Rs 50,177 per 10 grams last monday and touched a low of Rs 49,230 that day. However, it touched a high of Rs 50,438 on Friday. However, in the end, it ended up at Rs 50,112. This comes from fears that there may be profit bookings in the coming week. Buy tomorrow depending on the start.

In the indian market, the price of silver initially rose and then declined, echoing the international market. It started at Rs 63,100 last Monday. The minimum on that day was 62,525 rupees. It touched a high of Rs 64,220 on friday and then closed at Rs 63,902. This comes from fears that there may be profit bookings in the coming week.

Buy tomorrow depending on the start. Observe the market trend of tomorrow and determine accordingly. However, experts say that long-term investors may buy, given the many factors that favor the price of gold.
For more interesting updates click and follow Indiaherald WhatsApp channel

Find Out More:

gold price increase

Related Articles: