By Admin 
Gold Rate: The impact of the US-Iran war is being seen all over the world. Due to which India’s economy is also wavering. Due to which the prices of things used in everyday life are also increasing. Recently there are also reports that the prices of gold may also increase in the coming time.
Expert told…
In fact, recently Ritesh Jain, founder of Pinetree Macro, spoke with Business Today. During this, he said that the connection between the price of gold and the growth of income is also getting broken. He said, ‘If you look at the fluctuations in gold prices in the last few years, whether in US dollars or Indian rupees, the income has not increased accordingly. There has been no improvement in actual sales globally.
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Ritesh further said that people have already started compromising on the quality of gold due to its price. Ritesh said, ‘You are already seeing people moving from 24 carat to 22 carat, even 16 or 12 carat gold. Pure gold is becoming beyond the reach of the common man.
The price of gold has come down significantly from its high level. There has been a decline of about 26% (about ₹ 53,000 per 10 grams) from its highest price of 2,02,984 on MCX. At present the prices are moving in a limited range as there is no new major factor in the market. There has definitely been a slight recovery, but there is continuous selling at the upper levels, due to which the price is not able to go up much.
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