Today again the gold price fall (Gold Price Fall) was seen. After opening for two consecutive days, the glow of gold was seen returning on Wednesday. After showing a day’s fast, the gold price fall again has been recorded on Thursday.
Gold today fell by Rs 134 to open at the level of Rs 51199 per 10 grams (Gold Rate Today) and this decline continued to increase. Talking about the initial trade, there was a time when gold touched a minimum level of Rs 51064 per 10 grams, while gold could not rise even above its opening price.
Gold futures move up on spot demand: Traders bought fresh deals due to strong spot market demand, leading to a rise of Rs 198 to Rs 51,108 per 10 grams in futures market on Wednesday. On the Multi Commodity Exchange, gold futures for December rose by Rs 198, ie 0.39 per cent to Rs 51,108 per 10 grams. The contract traded for 14,125 lots.
Analysts said: Market analysts said that the rise in gold futures prices was witnessed due to buying of fresh deals by traders. Gold rose 0.48 percent to USD 1,924.50 an ounce in New York.
Price of gold till Diwali: On August 7, 2020, on this day, the price of gold was seen at the all-time high of 56200 in the market. The price of gold depends on many things. So it is only speculation that gold can be cheaper. According to experts, the increase in demand will affect the price, but there is no possibility of any big rise in the price. There is no hope of a big rise in the price of gold right now.
Due to the strengthening of the US dollar, gold prices continue to decline at the international level. Experts have speculated that there may be a slight rise in the price of gold around Diwali, this will be due to the rise in demand. It is believed that the price of gold will be around 52000-54000 rupees per 10 grams during Diwali.