By Admin 
Gold price mcx: Gold prices crossed their all -time high 1 lakh per 10 grams in the month of April. However, after that there was a slight decline in gold, but this decline is not so much that gold is called cheaper.
Talking about Tuesday 6 May, even today, volatility and increased spot demand in the market against the dollar has put up the price of gold. Today, gold was trading at Rs 95,865 per 10 grams on the MCX Gold Index.
Who said the price of gold may fall 40 percent
Whereas, talking about the last one year, gold has given a tremendous return of 30 percent, while since 2001 its average annual return has been around 15 percent. Now in such a situation, John Mills, analyst of America’s research firm Morningstar, says that gold prices may fall by about 40 percent in the coming years. Let us know why experts are doing this.
Can the price of gold really come at 56000
John Mills, analyst of America’s research firm Morningstar, says that gold prices may fall by 40 percent in the coming years. If this happens, gold in India can fall directly to Rs 56,000 per 10 grams.
The major reasons behind this are being given. Among them, the first reason is, the supply means a tremendous increase in supply. Gold mining companies have made profits around the world and are now increasing production. In the second quarter of 2024, the mining profit had reached $ 950 an ounce and according to data so far the global gold reserve has increased by 9 per cent to 2.16 lakh tonnes.
The second major reason is the decrease in demand. According to the report of the World Gold Council, the central banks from all over the world are no longer in the mood to buy more gold. In the survey, 71 percent of the banks have said that they will either cut the purchase of gold or maintain the existing level.
The third major reason is, “peak” in the market means extreme level position. In 2024, merger and Acquisition (M&A) in the gold sector has increased by 32 percent. It indicates that companies are assuming that gold prices have reached their highest level.
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