Gold prices have started climbing before Diwali and Dhanteras. So far this month, the price of 24 carat gold has risen by Rs 1633, while the rate of silver has increased the fastest. During this period, silver has jumped Rs 5919. As compared to the record height of August 7, gold is still cheaper by Rs 3653. At the same time, silver is also soft at Rs 9168 from its high rate of this year.
This is the reason for the fast
HDFC Securities senior analyst Tapan Patel said that with the change in power in the US, gold prices have gone up in the hope of getting more economic stimulus packages. Explain that in the international market, gold traded at $ 1,950 an ounce. Whereas, silver remained almost unchanged at $ 25.44 an ounce. Gold rose 0.18 percent to $ 1,950.40 an ounce in New York.
Gold and silver have been such a move so far in November
|The date||Gold Rate (Rs / 10g)||
Silver Rate (Rs / kg)
|6 November 2020||52473||65845|
|05 November 2020||51532||62799|
|04 November 2020||51306||61243|
|03 November 2020||51242||62250|
|02 November 2020||51037||61867|
|29 October 2020||50840||59926|
|07 August 2020||56126||75013|
What will happen till Diwali
According to Ajay Kedia, director of Kedia Advisory, gold prices can be between 52000 and 54000 till Diwali. Ajay Kedia told Hindustan that the election of President, Donald Trump win or Joe Biden, the price of gold has to rise. He says that if Joe Biden wins the presidential election, the stock market will be under pressure.
This is because the removal of the trump will increase uncertainty about the economic plans that are going on in the US or on which further work is to be done. Biden is already critical of Trump’s policies. In such a situation, the new government can change the existing policies for the economy. At the same time, new equations can also be formed globally, which will put initial pressure on large companies of many sectors. In this case, once again investment in gold will be faster.