The price of gold crossed Rs 83,350 per 10 grams in early trade on February 4. The rise in gold prices in the global market affected its domestic prices. Gold in the global market remains on an all-time high of $ 2,830.49 an ounce. Experts say that the tariff policy of America has affected the price of gold. It is believed that the prices of many things will increase due to tariffs. This will increase inflation again. Due to this fear, investors’ interest in gold has increased.
Gold Gold after initial boom
Commodity Exchange MCX (McxGold on 4 February in (4 February (Gold) The prices of early trade increased. However, the prices later fell. At 1 o’clock in the day, the gold futures were Rs 324, or about 0.39 percent, with a weakness of Rs 83,000 per 10 grams. In the last few days, the prices of gold have seen a lot of ups and downs. Market experts say that gold prices may continue to fluctuate before some important data related to economy in the US.
Gold expected to continue to rise
Rahul Kalantari, VP (Commodities) of Brokerage firm Mehta Equities, said that in Global Economy, gold may continue to be a boom in the Gold. It is also supporting its prices by buying gold from central banks from many countries. Resistance level for gold in the domestic market is Rs 83,470-83,650 per 10 grams. Gold will get support at Rs 82,980-82,710 per 10 grams. On the other hand, Colein Shah, MD of Cama Jewelery, says that if the dollar index climbs, then correction can be seen in gold. City, in its report, has predicted the price of gold to cross $ 3,000 in the global market.
Also read: Gold Rate Today: Gold becomes cheaper on Tuesday for the second consecutive day, check 4 February gold rate
What should you do?
Financial Advisors say that gold may continue to rise in the global economy. Investors should make at least 5-10 percent of their total investment in gold. This helps in diversification of portfolio. If the gold stake in your investment portfolio is low, then you can invest a little in the gold if there is a fall.