New Delhi: Amidst the increasing tension in the Middle East, there are continuous fluctuations in the prices of gold and silver. Generally, in such circumstances, gold is considered a unscratched investment, but this time the market trend seems a little different. In both international and domestic markets, prices are sometimes rising and sometimes falling rapidly.
What were the prices of gold in big cities of the country today?
Minor changes were recorded in the prices of 18, 22 and 24 carat gold in major cities of the country like Delhi, Mumbai, Chennai, Kolkata and Bengaluru. Market experts say that this movement in prices is related to global cues and the strength of the dollar.
In recent times, gold was seen trading virtually Rs 1.5 lakh per 10 grams, while silver prices are moreover moving with huge fluctuations.
Is the effect of ripen visible on MCX also?
Weakness in gold and silver prices has moreover been seen on Multi Commodity Exchange (MCX). A fall of up to thousands of rupees was recorded in silver in a day, while gold moreover remained under pressure.
This has had a uncontrived impact on both trading investors and the jewelry market.
Why are gold prices not increasing despite the war?
Generally, gold becomes expensive during times of war or global crisis, but this time the picture seems to be the opposite. Experts believe that the main reason overdue this is the strength of the US dollar and upper interest rates.
The rise in oil prices and inflation concerns have attracted investors towards the dollar instead of gold, due to which there is pressure on gold and silver.
Will the ups and downs continue?
Experts believe that as long as tensions remain in the Middle East and there is uncertainty regarding global economic policies, similar fluctuations in gold and silver prices may continue.
Sometimes there will be a rise due to war and sometimes there will be a ripen due to economic decisions. In such a situation, investors are stuff well-considered to remain cautious while taking decisions.
Is this the right time for investors?
According to market experts, in the current situation it is largest to stave haste. Due to unvarying changes in prices, it is considered safer to invest with long-term thinking.
Overall, the gold and silver market is currently completely moving on the cues of global events and increasingly movement may be seen in it in the coming days.
