Union budget Gold has become cheaper by Rs 4,000 per 10 grams after a decrease in import duty. There is also pressure on international prices of gold before elections in America. Experts say that this is the right time to buy gold. He says that investors can buy gold and sell it later. The reason for this is that there are chances of pressure on gold prices in the international and domestic markets for some time.
Large fall in gold prices
Brokerage firm LKP Securities Vice President-Rest-Restrace (Commodity and Currency) Jatin Trivedi said that gold (Gold) The prices have fallen from Rs 75,000 per 10 grams to Rs 70,000 per 10 grams. Gold on the commodity exchange in New York has fallen significantly after reaching close to $ 2,500 per. In such a situation, investors should think about increasing investment in gold. Especially after increasing the capital gains tax on shares, gold is seen to be a good option for investment.
Prices will go up to Rs 72,000 again
The price of 24 carat gold in Delhi is running at Rs 68,100 per 10 grams. Regarding gold prices, Global Market Strategist and Researcher Sarvendra, Srivastava said that there is a difference in the price of gold on MCX and the price of gold in the spot market. On the other hand, Trivedi said that gold will again go to Rs 72,000 per 10 grams. After that it will decline. In such a situation, investors can earn profits by selling at a level of Rs 72,000.
Chance to earn profits in gold
Trivedi said that investors can think of selling gold when gold is up to Rs 72,000. The reason for this is that this is a large resistance level in the Near Term. On the other hand, the resistance level for Gold (abroad) is $ 2,500-2,525 an ounce. This year, there is a possibility of a decrease in interest rate in the US. If the interest rate decreases then the purchase in gold may increase. This makes the gold look attractive in terms of investment.
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Gold futures boom
On July 26, the Commodity Exchange MCX saw a boom in gold futures. Gold futures at 12:50 in the day was Rs 323, or 0.48 per cent, to Rs 67,769 per 10 grams. On July 25, Gold in MCX closed at Rs 67,462 per 10 grams.