Gold has fallen again today. With this fall, gold has reached a 2-month low. According to the Indian Bullion and Jewellers Association tax website, gold fell by Rs 306 to Rs 46,773 per 10 grams in the bullion market today. Gold rate today increased slightly by Rs 10 per 10 gram. Gold price in Mumbai is Rs 45,740 per 10 gram of 22-carat and 46,200 for 24 carat. Gold rate in Chennai is Rs 44,100 10 gram of 22-carat and Rs 44,350 for 24 carat
Gold has fallen by more than Rs 2,600 so far in June
According to the website of the Indian Bullion and Jewellers Association, if we talk about the month of June, gold has become cheaper by Rs 2,649 so far this month. Earlier this month, on June 1, gold was at Rs 49,422, which has now come down to Rs 46,773. Speaking of silver, it has become cheaper by Rs 4,681 to Rs 72,428 to Rs 67,747.
Gold may come down right now
Anuj Gupta, vice-president (commodities and currencies) at IIFL Securities, says the lockdown has reduced demand for jewelry, as well as the strengthening of the dollar. This decline may continue in July, which could bring gold to Rs 46,200. Talk to it though gold will go back up.
By the end of the year, gold can go up to 55 thousand again
Anuj Gupta says that after July, the demand for gold in the bullion market will increase from August. With this, it can go up to 55 thousand again by the end of the year. That is why investors need not panic over this fall.
Gold also slipped in the international market
In the international market too, gold has reached US 1, 1,760 per ounce today. It was at 19 1,900 an ounce earlier this month. But the rise in the dollar has pushed down the price of gold.