Gold Price: Now, attention is being focused on how much more the price of gold will rise in the coming months. Now, according to experts, the price of gold is expected to fall.
Gold Price : There is a picture of a rise in the price of gold as a result of the Israel-Iran war. Investors have once again focused their attention on gold as a safe investment. The price of gold has reached the one lakh mark. Therefore, now the attention is on how much more the price of gold will rise in the coming months. Now, according to experts, the price of gold is expected to fall.
There are signs of a decline in the luster of gold prices. The price of gold had increased significantly due to the ongoing conflict around the world. However, now there are signs of profit booking. According to experts, the price of gold is expected to fall by approximately 10 to 15 percent. Some experts have predicted that the price of gold will fall further within a year.
What did the expert say?
According to Ajay Kedia of Kedia Advisory, gold prices are continuing to rise, but there are no new signs that gold is gaining momentum at the moment. However, according to him, the current situation was not seen in the last 10-20 years when there were wars in the Middle East and conflicts in the Black Sea.
Although gold prices rose at the beginning of the Iran-Israel conflict, prices remained stable later. So the impact of the war has been felt on prices. At the same time, he said that it is difficult to get the double-digit returns that gold has given investors in the past few years. In such a situation, when money was invested in gold only for investment, there is a possibility of a decrease in the return estimate and an increase in profit recovery.
What will the price of gold be?
According to Ajay Kedia, gold prices are likely to fall by 8 to 10 percent in the next one to two months. Gold can maintain an average level of 2750 to 2800 dollars in the next one year. On the other hand, if the geopolitical crisis calms down and the situation normalizes, gold is likely to reach the level of 2400 dollars once again. Currently, prices are around 3400 dollars, which means prices can fall by 17 to a maximum of 30 percent. On the lines of international prices, prices in the domestic market can also react in the same
direction.What did Citibank say?
Looking at the future signs, Citibank has also reduced its forecasts for gold. Citibank has reduced its 3-month target for gold from $3500 to $3300 per ounce. The target price for the next 6 to 12 months has been reduced from $3000 to $2800 per ounce. This means that the price of gold is likely to fall by up to 17 percent.
The price of gold has reached $2800 per ounce and assuming a dollar exchange rate of Rs 83, it is estimated to reach around 87 thousand. If the price reaches $2400 per ounce, the price of gold will fall further.
Sukanya Samriddhi Yojana! How much will your daughter earn if you invest ₹1000, 2000, 3000 or 5000? See the calculation of returns
