The price of gold is falling in consecutive days. This is because the dollar is strengthening.
Although gold is the safest investment against inflation, investors have also turned to treasuries, which has weighed on gold. At the same time, observers are pointing out that gold is not likely to break new records this year and the negative trend may continue. Meanwhile, gold will gain in the long run.
There is also a decline in gold futures trade. Yesterday, the price fell 11.90 percent, or 0.6 percent, to $1,860.40 a troy ounce. This is the lowest rate in six months. The price is now down about 9.2 percent from a 52-week high of $2,048 hit on May 4, according to Dow Jones data.
Gold prices are expected to remain in the range of $1,880 to $1,920 per troy ounce in the next two months. There are indications that gold prices may fall temporarily. The global economy and the value of the US dollar are factors that directly influence the price of gold in the Indian market. Gold ETF market is also not attractive now. Investments have already benefited from ETFs.
Meanwhile, the price of silver has increased today. Silver is priced at Rs 77.50 per gram. 612 rupees for eight grams of silver. 775 rupees for 10 grams of silver and 77,500 rupees for one kilogram of silver. Yesterday, the price was Rs 76,500 per kg.