Those investing in gold have become silver. The stormy boom continues in gold. On 21 April, Gold set a new record of speed. Gold futures rose by Rs 1196, or 1.26 per cent, to Rs 96,450 per 10 grams in early trade in Commodity Exchange MCX in India. On the other hand, Gold also got wings in the international market. The price rose 1.7 per cent to $ 3,383.87 an ounce. The US Gold Futures rose by 2 per cent to $ 3,396 an ounce. This boom in gold has surprised investors. Rarely, gold would have been such a boom before.
Reasons for boom in gold
Commodity Analysts say that there is concern about global economy in the world. Especially the growing confrontation between the US and China is not good for the global economy. On the other hand, also due to weakness in US dollar Gold Is getting support The dollar index has come to a three -year low. Dollar weakness in second currency Gold Buying becomes cheaper. Therefore, the weakness in the dollar directly affects gold prices.
Fear of increasing tariff war
“The world is scared due to American tariffs. Economists are predicting stagflation. In the meantime, the world’s big central banks’ shopping is in high demand. It is affecting gold prices.” US President Donald Trump announced a tariff on 180 countries of the world on 2 April. However, he later deferred tariffs on more than 70 countries for 90 days. However, this has created a situation of uncertainty in the world. However, the world is most afraid of increasing conflict between America and China. No one is ready to bow down in both.
What should you do?
Experts in India say that investors should not delay anymore to invest in gold. Those who have invested in gold in the last 3-4 years on the advice of Moneycontrol, are sitting on a big profit today. Those who lost the opportunity should now start investing in gold. By the end of this year, the price of gold is expected to go up to at least $ 3,700 an ounce. This means that gold can go up to Rs 1.40 lakh per 10 grams in India. However, gold will show profits in the middle, which will make the prices down slightly.
Also read: Gold Loan New Rules: Will customers face difficulty in taking gold loan from RBI new rules?
This is how you can invest in gold
Today it has become very easy to invest in gold. You can easily invest in gold via Gold ETF or Mutual Fund gold scheme. Gold can also invest Rs 2000-3,000 every month through SIP. With this, your investment in gold will reach good level in 4-5 years. Financial experts say that investing in gold will lead to your investment portfolio diversified. Experts recommend making at least 10–15 per cent investment in gold.