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Saturday 11 July 2020

Gold rises by Rs 900 to close at Rs 51,000 in Ahmedabad, 8-year high globally

Gold rises by Rs 900 to close at Rs 51,000 in Ahmedabad, 8-year high globally



If the rupee weakens in the forex market, gold will continue to rise

Ahmedabad. Gold has delivered the best return on safe investment tools in the Corona epidemic. In the international market, gold has touched an eight-year high of 18 1,800 and reached 15 1,815.

 While silver has also jumped by Rs 1,000 per kg to Rs 50,500. With the onset of the second wave of the Corona epidemic, hedge funds, gold ETFs have increased the attraction of global investors, which has resulted in gold crossing the international market at an eight-year high of પર 1,800. According to Boolean analysts, rising above 18 1800 could lead to an increase of 18 1830 and then to a long term of 19 1900.

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The domestic market for gold has seen a 50 per cent rise in the last one year. Gold was in the range of Rs 34,000-35,000 in July last year, which has risen to Rs 51,000 this year. Demand in jewelery has declined due to rising prices and investor buying in exchange traded funds has been steadily increasing compared to the current demand for gold.

Divaybhaskr news 

Gold could reach Rs 55,000 by the end of 2020

Ashok Choksi of BD Jewelers said that despite the steady rise in gold, investor demand has been maintained which could push the new peak to 55,000 by the end of 2020.

While the international market is forecast to be 2000 2000. The rise was due to safe buying, legal as well as illegal imports in the country, and a strong grip of traders against investor demand. The boom has also been supported by rejections of large-scale recycling of gold.

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