Sarafa Bazar: Gold rates reached sky high, will become more expensive now
Gold price today: Big news has come today for the customers buying gold and silver, the latest gold rates have been released today which shows that the gold rates have reached the sky today and never before has gold been so expensive. Has not happened. Experts have said that gold rates will increase further. Let us know at what rate gold is being sold today.
HR Mandi Bhav News, New Delhi: Gold made a new record by trading above Rs 68,000. Gold continues to create new record of rise. On Friday, the price of 999 gold per ten grams reached Rs 68150. It will be known in Gudi Padwa and Navratri how the season will go ahead.
Gold is being bought by central banks all over the world to diversify their foreign currency reserves. According to RIBJA National Secretary Surendra Mehta, gold prices rose after the report came that China's Central Bank had bought a lot of gold.
Apart from this, due to traders not following the risk management system, short sellers got trapped and gold started trading above Rs 68,000.
This year was profitable for gold investors. GJC Chairman Sanyam Mehra said that the price of gold in the international market increased by more than 13.2%. Gold prices in the Indian market also increased by 12.5-13 percent in FY24.
In the new financial year also, gold prices will get support from geo-political and record purchases by central banks. Gold prices are expected to increase further.
Naveen Mathur, Commodity-Currency Director of Anand Rathi Shares and Stock Brokers, said that the rise in gold prices is likely to
continue. Naveen Mathur says, 'Now gold can be seen at $2300. Yes, there may be a drop and it may also go to $2150.
The advice for investors and buyers is that they should not enter into this rush, but buy gradually instead of investing all at once. If gold prices fall to $150, then buyers may get an opportunity as there is a bullish trend ahead for gold.