After the fall on Monday, gold prices again crossed the 50 thousand mark, these things had an impact on prices.

After registering a sharp decline in the Gold Rate on Monday, gold was once again on the upside on Tuesday. Gold prices today crossed the 50 thousand rupees per 10 grams figure. On Tuesday, prices of futures gold and silver futures on the Multi Commodity Exchange (MCX) were seen. As per this, gold futures on MCX rose by 1.10% i.e. Rs 549 to Rs 50,297 per 10 grams, while silver futures rose by 2.11% i.e. Rs 1,276 to Rs 62,130 per kg.

Sanjeev Bhasin of IIFL Securities told ABP News in Mumbai – “Gold must be included in everyone’s portfolio to reduce the risk of risk. Its drop in prices before Diwali is a great opportunity”.

On the other hand, Navneet Damani, VP of Commodities Research, Motilal Oswal Financial Services, believes that this time gold can be in the range of $ 1860 – 1915 and prices in India can reach Rs 49,600-50,900.

These things had an impact on prices
On Monday, the prices of gold in the international market had fallen by almost 5 per cent i.e. up to 2500 rupees. The reason for this was the announcement by the American medicine company Pfizer that the third clinical trial of the corona virus vaccine was successful. After the news, investors invested in such stocks which were related to economic growth. But on Tuesday, the prices of US gold and silver showed some rise, due to which its prices have increased in India. Today, the rate of Spot Gold has increased at the rate of 0.5 percent.

Prices will increase further on Dhanteras and Diwali

This week is the festival of Diwali in India. And during this festival, consumption of gold accelerates. On the day of Dhanteras and Diwali, people invest heavily in gold, which is likely to increase its prices. Kumar Jain, president of the India Bullion Jewelers Association, believes that till Diwali, the price of gold can reach Rs 55,000 per 10 grams.


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