Gold declined on May 12. Gold was seen in gold in both the country and abroad markets. In India, the Gold Futures in Commodity Exchange MCX fell at Rs 3,565, or 3.69 per cent, to Rs 92,985 per 10 grams. The biggest reason for the fall in gold prices in the country and abroad is a big deal between the US and China regarding tariffs. US President Donald Trump told about the deal. Here, on May 10, there was a ceasefire between India and Pakistan.
US gold futures 2% rolled
Spot gold in the international market (Spot Gold) It was falling at $ 3,277.84 an ounce 1.4 per cent. US Gold Futures (Us gold futures) It was 2 per cent to $ 3,279.20 an ounce. Experts say that the biggest impact on gold prices is expected to decrease trade war. US government officials announced a trade deal with China on 11 May. He said that this deal will reduce America’s trade deficit. This deal was confirmed by China. Chinese officials said the deal with the US has been agreed.
Gold reached all-time on 22 April
Gold was seen selling in gold with the hope of lowering geopolitical tension and tariff war. Usually, the brightness of gold increases when there is upheaval in the world. The reason for this is that it is considered the safest option of investment. When the risk increases, people take money out of the shares and put it in gold. When the risk decreases, people take money out of gold and put it in shares. It is worth noting that on April 22, gold prices made new height records. Gold in the international market reached $ 3,500 an ounce. Gold in India crossed Rs 1 lakh per 10 grams.
Also read: Today’s Gold Price
What should you do?
Jigar Trivedi, senior commodity analyst at the brokerage firm Reliance Security, said, “The dollar index has been carried out with good progress in a conversation with China. Switzerland has a conversation between the two countries at the end of the past week. It affected gold prices.” He said that the price of gold in the short term is expected to continue. The strengthening of the dollar will affect gold. This means that gold can fall to $ 3,200 in the short term. Gold futures in India can reach below 90,000. Investors can shop in gold on decline.