Gold price, silver price: The price of gold will rise to 1,00,000 rupees, but for how long?
Gold and silver provide protection against inflation along with liquidity. All India Gems and Jewelery Domestic Council (GJC) Chairman Sayam Mehra and Vice Chairman Rajesh Gokhale shared information about the potential of these precious metals for investors. He thinks that the price of gold and silver is going to increase due to various reasons.
New Delhi: Gold and silver have always been considered as safe investment options for investors. Especially when there is volatility in the economy. Because these metals have their own importance. Gold and silver investments also reduce the fear of inflation and rupee depreciation. Holding gold and silver in your portfolio provides diversification benefits. It reduces investment risk. This is because you invest in different types of things. When there is uncertainty in the market, gold and silver are considered safe investments. These are also easily sold. Recently, All India Gems and Jewelery Domestic Council (GJC) Chairman Sayam Mehra and Vice Chairman Rajesh Gokhale shared their views on these precious metals in a conversation with a news channel.
Giving his opinion on gold price , Mehra said that elections are being held in more than 50 countries of the world. Markets may turn lower due to global tensions. He said, despite these problems and the decision of the US central bank Federal Reserve not to cut interest rates, gold price did not fall. Mehra believes gold fundamentals are very strong internationally. He said, the amount of gold bought in India is about 800 tons. Whereas at the international level it is about four and a half thousand tons.
Gold is increasing as the US Dollar slightly declines US GDP data 2024.
Gold price are likely to rise
Mehra said, ‘I think the prices are increasing but the purchases are not decreasing. Consumer confidence is increasing. Going forward, gold prices are expected to touch $2,600-$2,800 or Rs 78,000 to Rs 80,000. Then in the next two to two and a half years, the price of gold will reach 100 crore per kg. I don’t think gold will be limited to 2,285 or 2,250. Mehra believes that upside potential is high in the long term. Chances of falling are very low.( gold price running 2332
Talking about the global context, Mehra said that de-dollarization is a factor that is evident all over the world. For example, if you look at China and Russia during the Russian War, it appears that Russia is now investing in gold instead of dollars. China needs to invest in gold if it wants to be strong. gold price increase
Mehra said that India brought back 100 tonnes of gold from England so that it could feel secure in itself. India can also feel safe on its part if any international geopolitical tensions arise. India has gold reserves of 822 tonnes. In the future it will go over 1000 tons.
The price of silver will also increase
Meanwhile, on silver, Rajesh Gokhale said the price of the white metal is also bright. Gokhale believed that the ratio of gold to silver was still much lower than what it should have been. However, its usage is likely to increase significantly in the coming days.
Gokhale explains that one reason is that silver is widely used in vessels. Women in our country use silver in everything from anklets to toe rings and hair ornaments. Even today, silver is most commonly used in both urban and rural areas. Silver is now used in many components of electric vehicles.
Currently Gold vs USD trade 2332$ it may goes to 2400$ in coming 2-3 month as per Expert research, FED with Reduce interest rate on September 2024
