Gold Rate: By the end of the year, the price of gold will be 52 thousand! Know why experts expressed the possibility of a boom

Mumbai. If you want to invest in gold at current levels and also want to know whether the price of gold will increase in the coming days and where it will go, then you can know this through the expert of commodity market. At present, the trend of rising gold prices is continuing. There has been a rise in the weekly prices of gold in the Indian bullion market. According to the website of India Bullion and Jewelers Association (IBJA), at the beginning of this week (October 31 to November 4), the rate of 24 carat gold was 50,480 on October 31, which increased to Rs 50,522 per 10 grams by Friday. Has gone.

According to Ajay Kedia, MD, Mumbai-based Kedia Advisory, by the end of this year, the price of gold can go up to the level of Rs 52 thousand. He has given some important reasons for the possibility of a rise in the rate of gold, which are linked to global and domestic cues.

Gold will get strength due to the fall of the dollar index
Generally, the strength of the dollar keeps gold prices low and under control, while the weakening of the dollar leads to an increase in demand, because more gold can be bought when the dollar is weak. As the dollar index is going down, hence the price of gold is expected to rise.

Also read- Gold and silver shine, see how expensive gold has become after festivals?

Apart from this, geo-political tension, mainly due to continuing military conflict between Ukraine and Russia, gold prices may increase. Because after the start of this war, there was a rise in the price of gold, but later due to the dominance of other reasons, this trend of rise in gold stopped. But till now the war between the two countries is going on.

Gold is a safe option for fear of recession
Due to rising inflation and interest rates in the US and Europe, the fear of recession has started deepening. If there is a recession in the US next year, then investors will consider it safer to invest in gold than in the equity and real estate market, and due to this, due to the increase in demand for gold, its price may see an increase.

Correction in the price of gold made valuations attractive
In August 2020, the price of 24 carat gold in the domestic market was around 56,500 level. At the same time, in March this year, this rate was around 55,400. At present, the current price of gold is 50,522, that is, if seen, the prices of gold have fallen by about 8 to 10 percent from the high level. In such a situation people will be attracted towards investing in gold.

Gold demand increased in India-China
The demand for gold has increased in India during the festive season. According to the gold miners lobby World Gold Council, the demand for gold jewelery stood at 381 tonnes in the January-September period, which was higher in the third quarter. As the demand for gold in India has increased. Well, in the same way, New Year celebration is about to start in China, so due to increase in demand for gold there too, the price may increase.

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Tags: 24 karat gold price, business news, Gold Rate