Gold last week Created a new record. Gold closed on Friday at its all -time high price of Rs 86,070 per 10 grams in the bullion market of the national capital. Let us tell you that from January this year, gold has become expensive by about 6500 rupees per 10 grams. After the record of gold, the question in the minds of the common people is whether the price of gold will continue or will decline in the coming days? If you are also looking for the answer to this question, then we answer you. Let us know that the price of gold will continue to rise or the decline will return.
Why the record of gold gains record?
Gold is traditionally seen as a safe investment in a period of instability. Tariff War has started with the arrival of US President Donald Trump. This has increased the concerns about inflation and economic growth globally, which has further increased the demand for gold. The tariff war has strengthened the US dollar and also affected the money markets. Let us tell you that strong dollar usually makes gold more expensive for foreign buyers. Due to these reasons, a record speed in the price of gold has been recorded.
So will gold be cheaper again?
India is the second largest consumer of gold, which meets most of its needs through imports. When the rupee is weak against the US dollar, the cost of gold imports increases, leading to an increase in domestic gold prices. Market experts say that the price of gold has gained momentum due to trade and concerns about the trade and strong performance of the US dollar implemented by the new US government. However, the safe investment appeal of gold is likely to decrease gradually from the steps taken by various governments to promote geopolitical tension and to promote economic growth. That is, the price of gold will decline in the coming days. So if you are waiting for the price of gold to decrease then it will happen. Yes, it will definitely take some time for this.
Latest business news