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Sunday 9 August 2020

Gold is setting new record levels every day, soon to hit Rs. Probably 60,000

Gold is setting new record levels every day, soon to hit Rs. Probably 60,000

  • Today in Ahmedabad, gold is sold at Rs. Reached the level of 58 thousand

Ahmedabad. Investment in gold has increased globally due to the economic downturn caused by the Corona virus. Countries around the world, including India, have cut interest rates. As a result, investment in gold is on the rise and as a result, prices are rising steadily despite not much demand for jewelery in the domestic market. In the past one week, the price of gold in Ahmedabad has gone up by Rs. 2500 to Rs. Have reached a historic level of 58,000. According to gold experts, if the rally continues like this, gold will soon touch Rs. 60,000 can happen. Gold in the international market has reached the level of 2060 dollars per ounce.

Increased investment in gold for security

According to Kedia Commodities, the state of the economy in India and globally is currently bad. Gold has gained more than 35% in the last 6-8 months against returns in the stock market. Investment in precious metals has increased as it is not certain when the economic situation will improve. However at the current level little profit booking may occur. But gold is likely to remain bullish in the coming days.

Gold rose 4.50% in one week

In the Ahmedabad spot market, gold prices have continued to rise. According to jewelers, on July 31, gold traded at Rs. 55,500 which today is Rs. 58,000 per ten grams. Thus, in just one week, the price of gold has risen by 4.50%.

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Gold traded at a new high on the MCX

With the opening of gold futures on the Multi Commodity Exchange (MCX) on Friday, Rs. 685 and in a short time Rs. 56191 created a new surface per 10 grams. Anuj Gupta, deputy vice-president, Angel Broking, said that in the coming days, gold prices will touch Rs. Can live up to 60,000.