New Delhi: Indians view Gold as a safe investment option. In the last few years, the gold prices increased at a very fast pace, thus making it a profitable asset for investors. In the last one year, the price of gold recorded a huge jump, which also affected people’s pockets.
Recently, gold made a record by crossing Rs 99000 per 10 grams price. The jump in price of the yellow metal came amid geopolitical tensions, weakness in the dollar and purchases by central banks. But in recent days, there has been a slight decline in its prices. However, this decline is marginal and there is no relief for buyers who are planning to buy gold jewellery or other products.
Experts are projecting gold prices could decline by 12% to 15% in the next two months. They are considering many global reasons for the possible fall in prices. The most important is the uncertainty regarding the reduction in interest rates by the US Federal Reserve. If the Fed does not cut rates, the dollar will remain strong, which will have a direct impact on gold prices. Besides this, inflation rate in the United States and strong economic data can also put pressure on gold.
According to investment experts, the possible decline in gold prices will be short-lived and the yellow metal still remains a strong option for investors having a long-term approach. People who have invested in gold at higher-levels should not panic, they advised. The experts said people planning to pump in money to buy gold for future investments should buy if the prices drop.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying gold, selling shares or subscriptions of any IPO, Mutual Funds and crypto assets.)
Gold prices in India have recently soared, exceeding Rs 99,000 per 10 grams. This surge, driven by geopolitical tensions and a weak dollar, has impacted buyers. Experts predict a potential 12-15% price drop in the next two months. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
