Gold prices fell by Rs 900 in one stroke, expert said good investment opportunity


Gold prices today

Tuesday’s business is seeing a huge profit recovery in gold. Due to which gold fell by about Rs 900 to Rs 42686 per 10 grams in just a few hours. On Monday, gold had closed at Rs 43580. On Monday, gold crossed the 43000 level for the first time on MCX and set a record high of Rs 43788 in intraday. That is, gold has fallen by 1100 rupees from record high. Expert says that this is a profit recovery from the upper levels. Every fall in gold is an investment opportunity for the future. Gold can touch the level of Rs 45000 in the coming days.

Gold was costlier by Rs 3000 in 5 days
Talking about till Monday, the price of gold has been steadily rising for the last 5 days and it has become expensive by about 3000 rupees per 10 grams. Experts say that due to the Corona virus, pressure on the stock markets around the world and weakness in the rupee made gold better. Gold also crossed the level of 43500 for the first time. In overseas markets also, the effect of the rise in gold was seen on the domestic market. In fact, due to the corona virus, there is a possibility of impact on the world economy. Because of this, gold became a choice as a safe haven. The momentum will continue even further, although the profit recovery will be seen in between.

Will gold become 45 thousand?
Ajay Kedia, director of Kedia Advisory, says that any decline in gold will create an investment opportunity. The global market is still under pressure due to Corona virus. Apart from China, its cases have also increased in South Korea. It has an impact on many countries, which has affected trade. Due to this, there was a significant decline in the US market on Monday. Due to this, investors are cautious about investing in equities and are turning to gold. Gold is back around 42650. If there is a slight decline in this, then a target of 44000 can be invested.

Anuj Gupta, deputy vice president (commodity and currency), Angel Broking, says that factors such as uncertainty in the global market and tension between Iran and the US last year made gold a safe haven for investment. Now due to Corona virus, once again there is a fast trend in gold. Talking about the short term, it can be seen increasing from Rs.44500 to Rs.45000 per 10 grams.

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