Amidst record inflation and spurt in crude oil, gold can make a fortune, know full details before investing

Russia-Ukraine War: Crude Oil sets ‘fire’ in gold, reaches 18-month high, will sweat to buy

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new Delhi. Due to the ongoing Russia-Ukraine War, crude oil in the global market reached a record high of 14 years. Now gold has also started heating in the fire in crude oil. Along with the international market, there was a sudden rise in gold prices in the domestic market on Monday. Due to this, gold reached $ 2000.69 in the global market, which is its 18-month high.

However, later it softened somewhat. Despite this, it is moving 1.5 percent higher at $ 1,998.37. Fast in the international market In the Indian market too, the futures price of gold on MCX rose 1.8 percent to Rs 53,500 per 10 grams.

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Hence the strength of gold
In fact, due to the uncertainty created in the financial markets around the world due to the war between Russia-Ukraine, investors are avoiding investing in risky options. That’s why they are turning to gold for a safe investment. This is the reason that during this war, investors invested heavily in gold ETFs, which further strengthened gold.

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Silver also crosses 70000
Apart from gold, there was also a huge jump in the prices of silver. Silver also rose 1.5 percent to Rs 70173 per kg on MCX. Anuj Gupta, Vice President, IIFL Securities says that investors are investing in silver like gold. In addition, in addition to the ongoing Russo-Ukraine war, the demand for silver in industries continues to increase, while its mining continues to decline. Silver is getting support from this.

Prices will increase now
Rahul Kalantri, Vice President (Commodities), Mehta Equities Ltd. says that in view of the current global situation, gold and silver prices may see further rise. The main reason for this is the fear among investors about investing in risky options. In such a situation, in the coming time, gold can reach $ 2000-2022 in the global market, while silver can reach $ 26.30-26.80 per ounce.

Tags: Gold ETF, Gold price, Gold Price Today, Russia ukraine war

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