Is it a profitable deal for you to buy gold now or will you see a decline in future – know the opinion of experts
Gold Silver Outlook: Indians are very fond of buying gold, whether they keep it with themselves in the form of jewelery or enjoy it by keeping it in a gold locker. India is counted among the largest gold consuming countries in the world. People are always interested in knowing the price of gold and keep expecting the gold rate to come down. Recently, the festival season has ended in the country and the wedding season has started. In such a situation, we have brought for you the advice of currency and commodity market experts for what approach you should take regarding buying gold.
today’s gold price
Today, a strong jump is being seen in the rate of gold on the Multi Commodity Exchange and it remains at a jump of around three-fourth percent. The gold price on MCX is showing a gain of 0.74 per cent at Rs 53,135 per 10 grams for December futures.
Know what is the opinion of experts on Gold
Anand Rathi Share & Stock Brokers Limited Of Currencies and Commodities Business Segment Of Director Naveen Mathur says that if we talk about the further outlook regarding gold, then the price is expected to come down because its trend seems to be for the lower level only. At present, the gold prices which are running around Rs 52,000 per 10 grams may come down.
The fundamental reason for this is that even though a decline is being seen in the dollar now, but in the coming time, like in 1-2 months, appreciation can be seen in its price. It is also important to keep an eye on how the Indian rupee will move against the dollar.
However, in the last week and this current week, the dollar has come down and gold and silver prices are seeing a rise. The fall in the dollar rate has also been the reason for the low inflation figures of many countries, as happened in America. Their inflation rate this time has come at 7.7 percent, which was more than 8 percent last time. Concerns about inflation have started reducing, due to which there are also expectations that the interest rates which were expected to be increased by 0.75 percent by the Central Banks of the countries should be reduced and the interest rates will be increased only by 0.50 percent in December. Due to this, where the price of dollar will be affected, the effect can also be seen on the price of rupee and other commodities in comparison to dollar.
Because of this, the dollar index has gone up to the level of 114 or 114+, but recently the effect of falling dollar prices is also being seen on the prices of related commodities. The fall in the rupee has also reduced and we can expect it to come down to Rs 80 or 79 per dollar in the coming times.
What is the estimate regarding the rate of gold
Naveen Mathur says that regarding the price of gold, it can be said that its price will neither rise much nor will it fall much. However, because the trend seems to be downward, gold can once again come in the range of Rs 51,000 to Rs 50,000 or so.
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