The price of gold reached a record high on 11 February. The reason for this is the new announcement of US President Donald Trump. He has imposed a new 25 % tariff on steel and aluminum imports. This has increased the risk of trade war in the world. It is believed that this will also increase inflation. Due to this, the interest of investors in Gold has increased. Spot gold rose 1.1 percent to $ 2,939.80 an ounce. At the beginning of the business, the price reached $ 2,942.70 an ounce. US Gold Futures also rose 1.1 per cent to $ 2,966 an ounce.
Gold futures in MCX close to Rs 86000
Here, Commodity Exchange in India Mcx Gold futures in (Gold Futures) At 12 o’clock in the day, Rs 76, or 0.09 per cent, was running with a slight rise of Rs 85,892 per 10 grams. It is believed that gold may continue to grow in the short term. On 10 February, Trump increased the tariff on steel and aluminum imports to 25 per cent. He has said that this tariff will be applicable without any exhalation. He has taken this step to support steel and aluminum industry in the US. However, this has increased the possibility of starting a new trade war in the world.
Gold rises due to increasing tariffs of America
Gold prices continue to rise since the beginning of this year. The main reason for this is Trump’s tariff policy. Investors are investing in gold due to the possibility of increasing uncertainty in the global economy. Whenever uncertainty in the world increases, gold prices rise. The reason for this is that gold is still considered the safest medium of investment in the world. There has been a tradition of investment in gold in India.
Gold is likely to continue to rise
The question is, is the right time to invest in gold right now? Experts say that gold is expected to continue. Inflation data is coming in American this week. If the infection is less than expected, the chances of reducing the interest rate of the Federal Reserve in the US will increase. This will affect the dollar. This can support gold prices. If the inflation is more than expected, the dollar may continue to strengthen. This will increase the risk of getting global trade war beauty.
Gold futures can go up to Rs 87000
Anuj Gupta, the head of HDFC Securities (currency and commodity products), believes that gold will continue to rise. He has hoped to cross the level of Rs 87,000 per 10 grams of gold futures at Commodity Exchange MCX.
Also read: Gold Loan: Gold price beyond 88,500, is the plan to take gold loan? Check interest rate
What should you do?
They believe that investment can make a little profit -booking in gold. Investing now can make further earnings. Experts say that investors’ investment portfolio should have 5-10 percent gold. If the gold stake in your portfolio is less then it can be invested in gold. However, this investment will have to be made a little by little instead of losing. This will reduce the average cost of your investment.