New Delhi. Global inflation has forced governments and central banks around the world to think. In January, inflation in America broke the record of the last four decades. There the inflation rate reached 7.5 percent. Amidst the ever-increasing inflation, gold prices are seeing a rise. This is increasing the attractiveness of investors in gold.
Experts say that due to record inflation and jump in crude oil prices, gold is likely to rise. In the international market this week, the price of gold has crossed $ 1860, which is at a three-month high. On MCX it has crossed 49000. In such a situation, if you invest in gold, then you can earn huge profits.
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Tension in Ukraine-Russia will increase further
Commodity market experts say that the demand for gold is increasing due to inflation. Due to this the prices of the yellow metal are increasing. Crude oil has crossed $ 95 in the global market amid tensions in Russia and Ukraine. If tensions between Ukraine and Russia increase, there will be crude oil and inflation. This will give rise to inflation, due to which the price of gold will increase further.
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Yellow metal will soon reach the level of 50000
Ajay Kedia, managing director of Kedia Advisory, says that in the short term in the international market, gold can reach $ 1920 and 50,000 on MCX. Anuj Gupta, Vice President, IIFL Securities said that rising inflation in the US is a matter of concern. Crude oil has crossed $95. If the dispute between Ukraine and Russia escalates, crude oil will soon cross $100. Gold prices may rise further due to rising crude oil prices and rising inflation.
Estimated to reach $ 1900 in the global market
Amit Sajeja, Vice President, Motilal Oswal, says that the trend of gold will continue to rise. First it will cross the level of $ 1865. Very soon after that it will cross the level of $ 1890 and then $ 1900. Anuj Gupta said that gold has got strong support at the level of 48500 on MCX. Its next target will be 49700. After waiting for some time, it will also cross the level of 50000.
Tags: gold price
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