Commodity Market: Gold prices are seeing a huge rise. Today, the gold record on MCX is seen crossing Rs 85500 per 10 grams. What are the reasons for this speed and how long the experts are expecting to reach 1 lakh rupees, let’s take a look at the high flying of gold before talking about it. Gold prices have reached record levels. The April futures of gold have gone beyond 85000. Comex Gold has crossed $ 2900 an ounce. Spot prices in the US have reached close to $ 2900.
Due to the rapid gold
Market experts say that Donald Trump’s statement has led to a rise in gold prices. He plans to impose tariffs on many countries. It may be announced on Tuesday or Wednesday. Trump’s plan to install reciperocking tariffs. Tariff possible on steel and aluminum from today itself. Now the importers will have to pay an additional 25 percent tariff. Apart from the current tariff, this 25 percent tariff will have to be paid. Gold has also been supported by cutting the rates of central banks.
Colin Shah, MD of Cama Jewelery It is said that in today’s business session, gold prices in international markets have reached a new height. This yellow metal prices are seen trading at a level above $ 2900. The main factor that carries gold prices up is the threat of recently given by US President Trump. Due to this, the demand for safe-investment options like gold is increasing. In addition, the US is expected to impose 25 % tariffs on all steel and aluminum imported by the US. This new step is in addition to existing metal charges. The possibility of America-China tradewor is also supporting gold prices.
How is the demand for gold
Fresh data shows that gold global investment demand has increased by 25 per cent in 2024. Gold global supply was 4974 tonnes in 2024. At the same time, the global demand for gold was 1877 tonnes. Global demand for coins and bars was 1186 tonnes. Looking at the figures of the World Gold Council, the demand for gold in India was 761 in 2023, which increased to 802.8 tonnes in 2024.
Currency Check: Rupee reaches record low levels in Intra Day, USDINR spot expected to remain within Rs 87.80 to Rs 87.80
How can gold and silver move ahead
IBJA President Prithviraj Kothari Says that the price of gold in gold is not a big deal by $ 50-100. People are ready to buy gold in any house. Investors are hedging in gold. This has greatly affected its physical market. It is better to stay in the sideline in the market at this time.
Pace 360 co-founder Amit Goyal Says that they are not bullish on gold and silver. Gold will go up to $ 4000 in long term by 2028-29. Its price in short term may fall to $ 2600. Trading medium level in gold will not be right.
Anmol Silver CEO Kishore Runwal Says that silver has increased due to increase in gold prices. Silver prices can go up to 120000 rupees. The silver market has got support due to increase in gold prices. This has boosted silver jewelery market.
Silver Emporium Chairman Kanti Mehta It also says that silver jewelery sales is good. Shopping for silver articles is not good. Silver jewelery has been supported due to increase in gold prices.
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