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News India Live, Digital Desk: If you Gold Thinking of investing in, or if there is going to be an auspicious work in your house soon, then this news can be very important for you. Experts are telling that due to inflation and geopolitical stress, the price of gold in India can reach ₹ 75,000 to ₹ 76,000 per 10 grams by the end of July! So, let’s know what are the reasons behind this boom and what it matters to you.
Why will the glow of gold increase? Three major reasons:
Gold has always been considered a safe investment in uncertain time. There are some solid global and economic reasons behind its rising prices:
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Increased geopolitical stress: There is an atmosphere of uncertainty worldwide due to conflicts like Israel-Filistine and Russia-Ukraine. When stress increases globally, investors turn to gold as a safe alternative, which increases his demand and prices.
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Fear of inflation: Inflation still remains a major challenge worldwide. When inflation increases, people have low purchase power, and gold is seen as a hedge (security) against inflation. Investors invest in gold to protect their property from the influence of inflation.
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Possible cuts in interest rates: In many countries including the US, central banks are planning to cut interest rates in future. When interest rates are low, investing in gold becomes more attractive because it is non-onion property.
Experts’ opinion: What is a golden opportunity?
Commodity experts, such as Anuj Gupta (Anuj Gupta of HDFC Securities, was mentioned in the original article, but stated as ‘Commodity Experts’), believes that the gold price can touch Rs 75,000 to Rs 76,000 per 10 grams by the end of July due to all these factors. He suggests that if you are thinking of investing in gold, it can be a right time, especially if you buy, it will prove to be beneficial. Investment in gold for long periods has always been giving good returns.
What is the feeling right now?
At present, the price of 24 carat gold is running around ₹ 72,000- ₹ 73,000 per 10 grams. At the same time, silver is also going up rapidly, and it has reached ₹ 92,000 per kg.
What to do for you
If you are making up your mind to invest in gold or silver, then experts are of the opinion that this is a good chance to buy on small declines. But, always evaluate your financial status and risk tolerance before any investment and consult a financial advisor if necessary. This is just an estimate, but the glow of gold is likely to grow more in the coming times!
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