Big fall in gold prices, is this the right time to buy, see details

[ad_1]

Gold Price: On the Multi Commodity Exchange (MCX), the price of gold has reached a low of about Rs 4000 from its recent high. On Friday, the price of gold on MCX closed at ₹ 51,475, which is 0.33 percent lower than Thursday’s closing price. Earlier, the high level price of gold was Rs 55,558 per 10 grams.

According to commodity market experts, the recent increase in the US Fed interest rate by 25 bps and an attempt to accelerate interest rates has been done to reduce inflationary pressure. This is affecting the cost of Sony.

Also read- Good news for WhatsApp business users, orders will be easy to manage

change will happen soon
Experts said that the ongoing economic sanctions on Russia will increase supply chain constraints and increase inflation. Hence, gold buyers are advised to maintain ‘buy on dips’ as MCX gold price remains above ₹48,800 level today. He said that gold prices can see pressure in a short time, but its effect will be positive in the medium to long term.

Gold price fell by 397 last week
There has been a fall in the weekly prices of gold and silver in the Indian bullion market. In this trading week, the price of 24 carat gold has fallen by Rs 397. At the same time, the price of silver has fallen by Rs 409. At the beginning of this business week (March 14 to 17), the rate of 24-carat gold was 51,961, which has come down to Rs 51,564 per 10 grams by Thursday. At the same time, the price of silver of 999 purity has come down from Rs 68,414 to Rs 68,005 per kg.

Also read- Only saving is the real partner, your savings will come in handy in trouble

How much gold rate changed in last one week
March 18, 2022 – Market Holiday
March 17, 2022- Rs 51,564 per 10 grams
March 16, 2022- Rs 51,345 per 10 grams
March 15, 2022- Rs 51,521 per 10 grams
March 14, 2022- Rs 51,961 per 10 grams

Gold imports rose to $45 billion in the first 11 months of the current financial year
Let us tell you that the country’s gold import has increased by 73 percent to $ 45.1 billion in the first 11 months (April-February) of the current financial year. Gold imports have increased due to high demand. With this, gold imports stood at $ 26.11 billion in the same period of the previous financial year.

Tags: business news, Gold price, Multi Commodity Exchange, silver price

[ad_2]

Read Article in हिन्दी

Leave a Reply

Your email address will not be published.