Iran-Israel has become a gold rocket due to War. Gold prices are continuously climbing. This has reached a record height of 2 months. On June 16, there was a rise in gold prices in both the country and abroad. Today is the fourth consecutive session, when gold is visible. Iran-Israeli’s war does not show signs of stopping. Israel’s attitude is dangerous. He is threatening to end Iran. On the other hand, Iran is also not ready to bow down. Due to this, the demand for gold is continuously increasing.
A record of $ 3500 may break soon
On June 16, gold rose 0.3 per cent to $ 3,442.09 an ounce in the international market. Us gold futures were also running at $ 3,461 an ounce with a jump of 0.3 per cent. This is the highest price of gold after 22 April. Here, on 16 June in India, MCX Gold Futures saw a huge boom. Initially the price was up to Rs 500 per 10 grams. But, after a while, the profits felt slightly slightly slightly. Gold futures in MCX rose by Rs 7 to Rs 1,00,283 per 10 grams while writing the news. At the end of April, the price of gold reached all-time high. The price then reached $ 3,500 an ounce.
Resistance visible at $ 3500
Senior Market Analyst (Calvin Wong) in Oanda said, “Ziopolitical tension has increased due to the fight between Iran-Israel, which has increased the glow of gold as a safe option for investment. Gold has clearly broken the 3,400 $ 3,400 level. The trend is looking fast in the short term. The resistance of the $ 3,500 is seen. It is expected to go. After this, gold will create a new record of height. “
Prices can go up to 1.25 lakh per 10 grams
Many experts say that all the conditions are looking favorable for gold. The gold futures in the short term will try to increase to Rs 1.25 lakh per 10 grams. Gold Investors’ eyes are on the battle of Iran and Israel. From US President Donald Trump’s statement, it seems that this Israeli attack is not going to stop. However, investors will have to keep in mind that if Iran and Israel will agree to the ceasefire when international pressure increases, gold may stop.
What should you do?
Financial advisors say that retail investors should focus more than the ups and downs in gold prices on the share of gold in their investment portfolio. If your investment in gold is less than 10-15 percent, then you should try to increase it. This is necessary for diversification of investment portfolio. In addition to gold jewelery, you can invest in Gold ETF or Gold Scheme of Mutual Funds. It would be best to invest in gold from SIP. With this, your investment in gold will reach good level in 4-5 years.