Gold reached Rs 87,060 per 10 grams on 14 February. Gold was supported due to weakness and strong demand in US dollar. The price of 24 carat gold in Delhi reached Rs 87,210. The price of 22 carat gold was Rs 79,960 per 10 grams. The Commodity Exchange MCX also saw a boom in gold futures. Gold futures were rose by Rs 492 to Rs 86,300 per 10 grams.
Trump’s tariff policy boosts gold
Gold in the global market was $ 2,929 an ounce. This is the seventh consecutive week when gold (Gold) There is a boom in. The major reason for the boom in gold is US President Donald Trump’s aggressive tariff policy. This poses a risk of increasing global trade war. The first Trump announced to increase tariffs on Canada, Mexico and China. On 13 February, he signed an order to impose reciperook tariff.
Soon the price will cross $ 3000
Ajay Kedia, director of Mumbai’s brokerage firm Kedia Commodities, said that profit booking could begin in Gold. The price of gold is running close to $ 3,000 an ounce. In such a situation, some investors can book a little profit. On the one hand, while Trump’s tariff policy has posed a risk of increasing inflation, on the other hand the Federal Reserve has refused to reduce the water -interest rate.
Profit booking expected at $ 3000
Experts say that gold is expected to rise. The reason for this is that Trump’s tariff policy has increased uncertainty in the global economy. Whenever the turmoil increases in the global market, the glow of gold increases. The reason for this is that gold is considered the safest means of investment. Analysts say that there will be a boom in gold. Its price may soon cross $ 3,000 an ounce.
What should you do?
Market analyst says that if you do not have gold in your investment portfolio, then you can invest at least 10 percent in gold. For this, you will have to wait for the opportunity to fall in gold. On every decline, you can invest a little in gold until you reach 10 % of the gold stake in the investment portfolio.