Gold prices have decreased under the pressure of global market, but there is a possibility of increase in it. In fact, as inflation increases, investment will increase in it and this will increase its prices.
On the lines of the rise in the prices of gold and silver in the international market, its price has also increased in the Indian market. Recently, due to the fall in the dollar prices, the price of gold started to rise slightly, but due to the increase in bond yield, investment in it decreased and its prices were controlled. Yield of US bonds reached one-year high. Therefore, investors had pulled out of gold and its prices had come down. But now it has increased slightly.
Gold and silver increase in MCX
Meanwhile, on Monday, gold in MCX rose by 0.19 percent, ie Rs 90 to Rs 46,287 per ten grams. Silver rose 0.56 percent i.e. Rs 388 to Rs 69,400 per kg. Gold in Delhi market reached Rs 46,101 per ten gram on Friday. On Thursday, the price of gold was Rs 46,447 per ten grams. Gold and silver prices have been fluctuating in this month of February.
Gold shines in the global market
Gold had reached a seven-month low in the last session in the global market, but today it showed an increase. Spot gold climbed 0.3 percent to $ 1787.31 an ounce, while silver also recorded a 1.3 percent jump and reached $ 27.56 an ounce. Gold reached the highest level of Rs 56,200 per ten grams in India in August 2020. Since then, its prices have steadily declined. Due to being cheaper, its demand has increased.
However, it is expected to increase its prices in the international market. In fact, with the improvement in the American economy, inflation will increase in the global economy. So investors can buy gold for its hedging. This situation will increase its prices. That is, gold can still be a bit expensive.
Nidhi Malviya is fun loving girl. She writes at NoobFeeds about various topics related to Finance, Technology, Business etc.