Gold Prices Can Go Upto Rs 53,000 Till Diwali; Check Out Five Reasons For This Rise
New Delhi, 7th October 2022: Prices of gold are rising day by day amid the rise in the global market and the fall in the rupee. People wanting to buy gold and silver on the occasion of Dhanteras and Diwali should consider buying gold now. According to market experts, till Diwali, the prices of gold can go upto Rs 53000 per 10 grams and silver up to Rs 65000 per kg.
According to Ajay Kedia, Head of Kedia Commodities, there are mainly five reasons for the increase in prices which are as follows:
• Due to the beginning of decline in the dollar index and bond yields.
• If the central bank continues to raise interest rates like this, then the world may face a recession. Because of this fear, people are preferring gold as a safe investment.
• Russia-Ukraine War.
• Rise in gold rates in India is the premium of $1, while in China, Indonesia and Turkey it is $ 35-40. This indicates that there is a shortfall in the supply of gold.
• Increasing demand for gold due to the festive season in China and India.
Due to the decrease in supply on the one hand and increase in demand on the other hand, the rate of gold will continue to rise further. Whereas, silver can give higher returns than gold.
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