Gold Price Today: Gold became expensive overnight, a big jump in the price of silver, know today's new prices

Gold will reach 55 thousand again in a year, know why experts are betting on this


new Delhi. Gold prices rise due to rising tensions between Russia and Ukraine (Russia-Ukraine Tension impact on gold rates) is expected to have a major impact. Now that the stock markets around the world are in a downtrend, investors can once again run towards gold in search of a safe haven.

Commodity expert Ajay Kedia says that the situation of war between the two countries seems to be forming and if the situation worsens, then gold will again reach beyond 55 thousand. At present, till the next quarter, the yellow metal is expected to remain at the price of Rs 50,750 to 52,500 per 10 grams. But, if the situation becomes more serious, gold will also cross the level of 55 thousand in the next 12 months.

Also read – Crude became costlier by 62% in one year, know how crude oil is drinking your earnings

Price will rise with tension
Ravindra Rao, VP-Head Commodity Research, Kotak Securities said, “If the confrontation on Ukraine-Russia issue escalates, then gold will again get support for safe haven buying and the prices will go up.” At the same time, if a solution comes out through diplomatic talks, then gold will fall to around 48 thousand. The higher the Geopolitical Tension, the more the stocks will fall and gold will get support.

Above 50 thousand on MCX
The price of gold is running above 50 thousand on the multicommodity exchange. The futures price of April 4 was trading at Rs 50,353 per 10 at 2.47 pm on Tuesday. At the same time, the rate of gold in the global market reached $ 1,908.23 an ounce. This is the highest rate since June 2021.

Also read – Stock Market: Outcry in the market, Sensex fell by 1,200 points, Nifty below 17 thousand

Spot price is also more than 50 thousand
The spot price of gold in the retail market is also moving above Rs 50,000 per 10 grams. According to the website of Indian Bullion and Jewelers Association (IBJA), the spot price of gold was running at Rs 50,500 per 10 grams till 12 noon on February 22.

what investors to do
Anuj Gupta, Vice President, IIFL Securities says that investors should invest money in gold after seeing the situation ahead. If it is to be kept for a long period, then now is the best time to buy gold, but in the coming days, if Russia and Ukraine reach an agreement, then profit-booking will start in gold.

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