New Delhi. The shine of gold is still there as always. Whenever there is unrest around the world, the shine of gold increases. Today on Tuesday, there was a rise in gold prices for the second consecutive day. With this surge, the price of gold has reached its highest level in a week. On MCX it was Rs 75,545, and on Comex it touched $ 2,632 an ounce.
A rise in gold prices has been seen amid the latest tension between Russia and Ukraine. The second reason is also the report of Goldman Sachs, which states that by December 2025, the price of gold can reach $ 3,000 per ounce (up to Rs 9045 per gram in Indian rupees). The price has reached the highest level of this week, but the good thing for those interested in buying is that at present it has fallen by 4.4 percent from the highest level of this month.
Gold prices have outperformed major assets so far in 2024. It has shown a strong trend throughout the year. There have been many reasons behind this rise, such as geopolitical tensions at the global level, rate cuts by major central banks, increasing trade disputes and economic instability.
How right is it to invest now?
Now the big question is whether this momentum will continue in gold? Would it be right to invest in it now? The answer to this question depends on global circumstances. Goldman Sachs has already given its bullish stance. Apart from this, reports of different brokers can be looked at.
Jatin Trivedi, Vice President Research Analyst (Commodity & Currency), LKP Securities, said, “Gold gained strongly due to rising geopolitical tensions between Russia and Ukraine. Allowing US long-range weapons to be used has fueled the conflict… In response, Moscow deployed about 50,000 troops to the area south of Kursk, raising concerns and Increased. This geopolitical risk boosted gold prices, as investors turned to safe-haven assets. Jatin Trivedi said that the main support for MCX gold is seen around Rs 74,200-74,250, while the resistance is at Rs 75,100.
(Disclaimer: The information given here is based on the opinions of experts. If you want to invest money in any of these, then first consult a certified investment advisor. News18 will not be responsible for any profit or loss of yours. )
Tags: 24 carat gold price, gold price, gold price hindi
FIRST PUBLISHED: November 19, 2024, 16:37 IST
