Gold Price: There has been a decline in gold continuously for the last ten days in August amid a decrease in pleasant tension. Earlier this month the price of gold reached a record high. But since then, investors, traders and jewelers are keeping a close watch on it due to the decrease in prices.
On August 8, there was a tremendous increase in the price of gold and it reached all time high. On August 18, 22 carat gold was getting about Rs 9,280 per 10 grams i.e. at the rate of about Rs 74,240 per 10 grams due to the fall coming since then.
Continuous decline in gold
This decline of gold has been welcomed by the jewelers. They believe that long -standing buyers can now return to the market.
Market experts say that the current decline is due to global economic signs and softening of geopolitical stress. Pranab Meher, Vice President of JM Financial Services, Pranab Meher, said that next week, gold prices can also be mixed with mixed trend, as everyone will be seen on the US economic figures and next month’s US Federal Reserve meeting.
What will be ahead?
International stir will also play an important role in deciding further attitude. According to Manav Modi of Motilal Oswal Financial Services, the major reason for decreasing the demand for gold in the form of safe investment is recent softening in the stressful situation. Diplomatic efforts regarding the Russia-Ukraine war have raised the hope of ceasefire and there has been partial relief in commercial tension between the US-China.
Also read: Next Jane GST reform increased the concern of states, 7000 to 9000 crores can be huge losses every year
Khanderao Deshmukh aims to guide job seekers by delivering accurate, timely, and easy-to-understand information, helping them secure stable government careers.
