Gold Price: A good opportunity to buy gold; 8500 cheaper than the highest price Gold Price Down Over Rs 8,500 from All Time High
Gold Rates | Gold prices also hit new highs in the last three weeks in international markets. Spot gold rose 0.4 percent to 79 1,798.46 an ounce.
The price of gold
Mumbai: Gold prices, which have been hovering above a certain level for the past few days, saw a slight rise on Tuesday. On the Multi Commodity Exchange (MCX), the price of 10 grams of 22 carat gold rose by Rs 120. 24 carat gold rose by Rs 1,200. Therefore, 22 carat and 24 carat gold were priced at Rs 46,400 and Rs 47,400 per ounce, respectively. As a result, gold is currently trading at Rs 8,500 cheaper than the all-time high. (Gold rates on MCX commodity market)
Gold prices also hit new highs in the last three weeks in international markets. Spot gold rose 0.4 percent to 79 1,798.46 an ounce. The movement of gold in the international market depends on the credit policy of the US Central Bank.
Will gold price reach Rs 52,000 by December?
Over the last few months, the price of gold has been falling to a certain level. International gold prices have put pressure on gold prices, which have dipped below Rs 47,000. However, gold prices are expected to rise again after the emergence of the Delta Plus variant of the Corona. Therefore, experts are advising to buy if the price of gold falls further.
Gold is currently at a two-month low. At the Multi Commodity Exchange, gold has strong support at Rs 46,500. Gold was trading at 46,615 per ounce when the market closed on Friday. Therefore, the price of gold is very close to the support price. Once this level is reached, gold prices will start moving upwards again. Similarly, the Delta Plus variant of the Corona has added to the atmosphere of uncertainty. Therefore, gold prices are expected to touch 52,000 by December.
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(Gold rates on MCX commodity market)
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