Gold saw a decline on 27 May. Its prices in the country and abroad were under pressure. Gold fell 0.5 per cent to $ 33,325.99 an ounce in the international market. The US Gold Futures slipped 1.2 per cent to $ 3,325.70 an ounce. Here, the Commodity Exchange MCX in India also saw a major decline in gold. At 1:36, the gold futures were running at Rs 95,161 per 10 grams with a weakness of Rs 776, or 0.81 per cent.
Concern about government deficit in America
Calvin Wong, senior market analyst of Asia Pacific in Oanda, said that for some time Gold Consolidation is visible in. The market is still dry and waiting for the next trigger. He said, “Market participants are concerned about the increasing budget deficit in the US. However, this should increase the glow of gold.” The dollar has seen a slight rise. On May 26, it went to a one -month low.
Gold is expected to continue further
Akash Kamboj, Vice President of India Bullion and Jewelers Association, said US President Donald Trump has currently postponed the tariff’s decision on the European Union. This showed a boom in the shares, but the glow of gold declined. However, gold is expected to continue in the US due to increasing deficit losses and uncertainty over trade. In such a situation, investors should use every opportunity to fall gold.
Currently consolidation in gold
Experts say that global factors have affected gold. However, the gold outlook is still strong. Profit booking in gold was already estimated after a record speed. This decline may be due to profit booking of gold investors. Investors’ portfolio should have 10-15 percent gold. If the gold stake in your portfolio is low, then you can invest a little in gold at every decline.
Also read: Gold Rate Today: Gold-silver price on green mark, here is the gold rate on Tuesday 27 May
What should you do?
Today it is very easy to invest in gold. You can invest in the gold scheme of Gold ETF and mutual funds sitting at home. A demat account is necessary for investment in Gold ETF. However, the gold scheme of mutual funds can invest without a demat account. You can also invest in gold through SIP.