Gold price further drops..? Can we buy today?

Sowmiya Sriram
Gold price further drops..? Can we buy today?
The price of gold is falling sharply today. It is expected to see further decline. How much more decline will it see? Can I buy it at this price? What is the forecast of experts? What to do next. As the impact of corona on the country is increasing day by day, it is expected that it may turn in favor of gold. One of the key factors determining the price of gold is the continued appreciation of the US dollar. This is seen at a 5 year high. Meanwhile, the US Federal Reserve is expected to raise interest rates soon. It is also expected to favor the US dollar. This is puts pressure on gold prices.
Data on the industry in the united states and data on employment rates have been favorable to the market. This is due to the value of the dollar touching the peak. Meanwhile, the price of expensive jewelry is under further pressure. The price of gold has plummeted to more than 8,000 rupees from its all-time high. Although it may fall slightly in the medium term, it is seen as the perfect place to buy in the long run. Meanwhile, experts continue to predict that the price of gold in the indian market could rise further if it exceeds Rs 48,000.

Data on non-farm work may bring about a change in the price of gold and silver. And already in the last year an unprecedented amount of gold has been imported. Will it increase further in the current year in the meantime? Or is it reduced by omicron? This is expected to echo in the price of gold. Because will the demand for gold increase amid the restrictions? The question also arises. The price of gold in the international market is declining today. The ounce is currently trading at $ 18.65, down $ 1806.45. It started slightly lower today than the end of the last session. However, in the medium term, the price of gold is likely to fall slightly.

Like gold, silver has fallen sharply. The ounce is currently down 2% at $ 22,710. This too is seen slightly lower today than in the last session. It has also broken the low price of the last session. So while the price of silver may increase in the long run, the price of silver in the medium term is likely to fall slightly.
What can you do today? While the price of gold and silver may increase in the long run, the medium term is also likely to decline slightly. The price of similar jewelry gold is also seen to be slightly lower. It is seen as the perfect place to buy if needed.
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