New Delhi. In the Indian bullion market, on the last trading day of the week i.e. on 24 September 2021, there was a trend in the price of gold. On this day gold closed down by Rs 365 to reach Rs 45,141 per 10 grams. At the same time, a slight jump of Rs 21 was recorded in the price of silver and it closed at Rs 59,429 per kg. Just two months before this i.e. on July 26, 2021, the price of gold had closed at Rs 46,500 per 10 grams. It is clear that within two months, a big decrease of Rs 1,359 has been registered in the price of gold (Gold Prices Slipped).
Why the price of gold may increase
Gold is currently running well below its record high. At the same time, it is also expected that this year the price of gold will break all the previous records. In such a situation, by buying at the current price, strong profits can be expected in the coming time. Let us tell you that in August 2020, the price of gold touched the highest level of Rs 56,200 per 10 grams. Now if you compare it with the closing price of July 24, 2021, then it is running down about Rs 11,059 per 10 grams. Experts believe that if there is an increase in the purchase of gold in the festive season, then with the increase in demand, the price of gold can set a new record.
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what investors should do
Experts believe that by the end of the year 2020, the price of gold can reach 60 thousand rupees per 10 grams, breaking its previous record. However, there can be a lot of ups and downs in this right now. In such a situation, investors can earn strong profits if they buy long term investment and stop loss. If the third wave of corona comes and the states have to resort to lockdown again, then business activities will be affected again. In such a situation, buying in gold can increase as the safest investment option. This will support the price of gold.
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Orignally published at Tailored Stash
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