Gold was seen to be tremendous on 13 June. Gold prices got wings in the country and abroad. Prices reached a record height of one month in a single stroke. The reason for this is the Israeli attack on Iran. It has a major impact on many asset classes. Gold and crude oil have had a big bounce, while stocks markets around the world have declined. Geopolitical tension is expected to increase, which can create a new record of gold prices.
Gold may soon cross $ 3,500
Spot gold in the international market rose 1.3 per cent to $ 3,428.28 an ounce on June 13. On the other hand, Us gold futures The 1.4 percent boom was running at $ 3,449.60 an ounce. Gold futures also saw a big jump in India. commodity Exchange Mcx In Gold Futures The rise of 1.94 per cent reached Rs 1,00,300 per 10 gram paps. After several weeks, gold in India has crossed Rs 1 lakh. Today is the last business day of this week. In such a situation, it seems that this week will be fantastic for gold. Gold has climbed more than 3.5 percent this week. This is very good news for gold investors.
Gold will climb after Iran’s counter attacks
According to Indian time on 13 June, Israel in the early hours targeted several Iran’s locations. These include Iran’s atomic bases. It is said that this has caused a lot of damage in Iran. Israel has named it Operation ‘Rising Lion’. It is believed that Iran will answer this. Meanwhile, Israel has alerted its citizens. It has activated his defense system to thwart Iran’s missile attacks. It is certain that geopolitical tension is going to increase in West Asia.
Gold broke 3400 dollars resistance level
Chief Market Analyst Tim Waterr in KCM Trade said, “After the Israeli attacks on Iran, there is no longer the focus trade war. The demand for gold has increased due to the possibility of increasing geopolitical tension. Investors are investing in gold.” He also said that Gold has crossed its resistance level of $ 3,400. Now it is moving towards $ 3500. Gold reached $ 3,500 an ounce in April, which was its all-time high. Experts say that it seems that gold will soon pass across this level and create a new record of height.
Also read: Gold Rate Today: Gold prices rise, on Friday 13 June, it is gold rate in Delhi, Mumbai, Bihar, Rajasthan
What should you do?
Experts say that retail investors should continue a little investment in gold. Gold in investment portfolio should be 10-15 percent. If the gold stake in your portpolio is less then you can increase investment in gold. You can buy gold jewelery. If you do not want to invest in physical gold, then you can invest in Gold ETF or Gold Mutual Fund. Both can be invested at home. A demat account is necessary for investment in Gold ETF. However, the gold scheme of mutual funds can be invested without a demat account. You can also invest in it with SIP.