gold price in country It has fallen after reaching its all-time high. Gold futures contracts for April 2023 stood at Rs 56,780 per 10 grams, nearly Rs 2,000 cheaper than the record high of Rs 58,847. In the international market, the yellow metal closed at $1,865 an ounce after hitting a low of $1,852 an ounce. Silver prices also remained under pressure throughout the week and declined by over one per cent. In such a situation, will it be a profitable deal to invest in gold now or will it be better to wait. Come, let us know what is the opinion of the experts.
What do bullion experts say?
According to bullion market experts, US dollar index and US bond yields have rebounded from the oversold zone. This has put a brake on the rise in gold prices. Despite this, the sentiment is positive for gold prices and any ‘buy on dips’ strategy should be maintained. In the past week, US dollar rates and US bond yields witnessed a bounce from their oversold zones, said Anuj Gupta, Vice President – Research, IIFL Securities. This put a brake on sleeping. However, in the coming times once again there can be a boom.
buy around 55 thousand
Market experts say that the price of gold is stable at Rs 56,500 per 10 grams. However, if the price of gold falls below this and comes to Rs 55,500 per 10 grams, then it would be the right time to buy gold. There may be pressure on gold in the coming days. In such a situation, if the price of gold once again comes to 55 thousand rupees per 10 grams, then purchases can be made. In the next three to four months, the price of gold can reach up to 57 thousand per 10 grams. At the same time, the price of silver can go up to 72 thousand per kg.
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