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

The brightness of gold is increasing, is now the right time to invest? Know how much the price will reach

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New Delhi. Gold prices are also increasing continuously due to rising inflation around the world including America. The price of gold has reached 49 thousand on the Multi Commodity Exchange (MCX), which is expected to increase further.

Ajay Kedia, Commodity Expert and Director of Kedia Advisory, says that as the risk of inflation increases, gold prices will also be affected. After reaching Rs 49 thousand per 10 grams, the spot price on MCX is expected to go up to 50 thousand. In the international market, gold also reached $ 1,852 an ounce, which is the highest level at present. Soon it can reach a new high of $ 1,865.

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Crude oil prices and Russia-Ukraine tensions will be heavy
According to Ajay Kedia, crude oil prices have remained above $ 90 per barrel, due to which there is every possibility of inflation increasing further. Inflation has a direct effect on the prices of gold, which will then go up. On the other hand, due to rising tensions with Russia and Ukraine, the supply of crude is being affected, due to which the fuel will become expensive and will affect the inflation of the world including India.

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Inflation in America highest since 1982
Retail inflation in the US has reached a 40-year high. The US Labor Department said recently that the consumer inflation rate in the country has reached 7.5 percent. This rate is the highest since 1982. Rising inflation has also intensified the pressure on the Fed Reserve to raise interest rates on loans. That is, there is no immediate relief from inflation.

Tags: gold price, Today gold rate

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