Gold Price Review: Gold price may be here till Diwali, so far this month has risen by Rs 1633

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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.

Also read: Gold Price: Gold is cheaper 5 times out of nine, know what will be the price this time

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.

Also read: Gold Price Today: Gold Price Changes, Silver Price Rs 3,046 – Know Today’s Rate

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.

Also read: Modi government selling gold at Rs. 1203 cheaper; Dhanteras – best opportunity to invest in sovereign bonds before Diwali

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.

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