How was your sleep this week
There was pressure on the price of gold this week. The price of gold continued to fall. Comparing the price of gold last week, it can be seen that there is a lot of pressure on gold. In the bullion markets, the spot price of 24 carat gold has fallen by about 2000 rupees in a week. At the same time, the price of silver has fallen by Rs 2303 in a week.
9017 rupees cheaper than all time high, gold is being sold
The price of gold reached its highest level on 7 August 2020. Gold had reached Rs 56200 per 10 grams. If you compare the price of gold with this all-time high rate on the last business day of this week, it has fallen down to Rs 9017. At the same time, the price of silver has fallen by Rs 8585 from its highest level last year.
Gold prices can reach 45000 rupees
According to market experts, the fall in the price of gold can continue for the next few days. Gold may fall further in the coming weeks. According to market experts, this fall can bring the price of gold to 45000 rupees per 10 grams. However, knowing this decline is not considered permanent. According to Ajay Kedia, director of Kedia Capital, gold has become under pressure due to the rise in dollar index, decrease in uncertainty in equity market. At the same time, the introduction of Corona Vaccine has given great relief to investors, due to which investors are putting gold in the market by removing safe investment.
Last week, 24 karat purity gold price watch
Talking about the price of gold and silver this week, the price of gold on February 1 was Rs 48745 per 10 grams, which fell to Rs 48537 per 10 grams on February 2. On Wednesday, February 3, there was a big fall in the price of gold and gold fell to Rs 47976 per 10 grams. At the same time, gold fell to Rs 47452 per 10 grams on 4th February, while on the last trading day of the week of February 5, gold reached Rs 47237 per 10 grams. While the price of silver stood at Rs 67423 per kg.
Gold price will return
Regarding the fall in the price of gold, market experts say that this decline is permanent. Soon once gold will shine again. Market experts believe that the global market has a lower interest rate, while ETFs are still buying. While the valuation in the equity market is high, the price of gold will increase in the coming days. If you want to invest in such a situation then this is a good opportunity. The investors should wait a little to let the gold price come in from 46000 to 46500.
Custom duty reduced on gold
Let us tell you that in the budget 2021, the government has reduced the custom duty on gold-silver rate. The Finance Minister announced in the budget to reduce the custom duty on gold and silver from 12.5 to 7.5 per cent. With the announcement of the budget, the price of gold and silver will be reduced already. Import of gold will become easier.