By Admin 
- Fluctuations in gold prices possible due to global uncertainty.
Gold Price Update: Due to the ongoing tension in the Middle East, a few days ago the Prime Minister of the country Narendra Modi had appealed to the people not to buy gold for one year. After this, there is some stagnation in the gold market which is growing rapidly. Today at 11:30 am, gold was trading at ₹ 1,58,686 per 10 grams on MCX with a slight increase of only ₹ 139.
The reason for this is that there is a fear of inflation increasing due to oil becoming expensive. For this reason, people feel that banks of big countries including America can keep interest rates high for a long time. When interest rates are high, people prefer to invest money in FDs and bonds instead of gold because they provide fixed interest, whereas gold does not give any regular income.
Outcry in the stock market! Sensex fell by more than 900 points, Nifty also down by 298 points
gold price forecast
According to experts, the trend of gold is still considered strong in the long term. There are strong supports below ₹ 1,57,100 and ₹ 1,56,000, while a move above ₹ 1,61,000 may again bring a sharp rise. According to Dr. Ravi Singh, Chief Research Officer, Master Capital Services Limited, despite weakness in global cues, gold prices in India remain strong. The main reason for this is the 15% import duty imposed in India and the low supply of gold in the market, which is not allowing the prices to fall.
strategy for investors
At such a time, the question now is what should an investor do? For those who want to invest for a long time, it is not right to invest all the money at once. Instead, it would be better to buy small amounts of gold from time to time. According to experts, investors should avoid investing money immediately after seeing the recent huge rise. Due to global tension, rising crude oil prices and uncertainty in US interest rates, gold prices may remain volatile in the coming days.
After the rate increase, how much is petrol and diesel being sold at your place today, check the latest price.