There has been a slight decrease in the price of gold and silver this week. This week gold has become cheaper by Rs 76 to Rs 48,578 per 10 grams. On May 31, gold was at Rs 48,654 in the bullion market. That is, gold has become cheaper by Rs 7,622 from its all-time high Rs 56,200. At the same time, the price of silver decreased by more than a thousand rupees.
In the last one week, silver has also become cheaper by Rs 333 and has reached Rs 70,167 thousand per kg. On May 28, it was at Rs 70,500. Let us tell you that silver had reached 73 thousand at one time in this month.
In the international market also, gold has come to US $ 1,891 an ounce, which was at $ 1904 on May 28. However, experts believe that in the coming time it can go beyond $ 2,000.
Harshvardhan Roongta, Certified Financial Planner, Roongta Securities, says that the market is now stabilizing due to the lessening of the corona epidemic and the rapid vaccination. In such a situation, now people are again turning to the stock market. In such a situation, there is little hope of seeing a lot of upside in gold in the coming months. According to Harshvardhan Roongta, gold is expected to remain between 48 to 50 thousand in the coming 2-3 months.
According to Surendra Mehta, secretary of the country's largest jewelery organization Indian Bullion and Jewelers Association, it is said that gold has again increased in the second wave of Corona. In view of this, by the end of this year gold can go up to Rs 55 to 57 thousand per 10 grams.
Gold has become costlier by Rs 2,241 in the month of May. On April 30, gold was at Rs 46,791 per 10 grams, which reached Rs 49,032 on May 31. On the other hand, when it comes to silver, it was at Rs 67,800 per kg on 30 April, which reached Rs 71,350 on 31 May. That is, in May itself, it has become expensive by Rs 3,550. Earlier in April, gold became costlier by Rs 2,601 and silver by Rs 4,938.
By the time Corona was at its peak last year, the price of gold had reached its all-time high. In August 2020, the record level of Rs 56,200 was reached. At that time, there was an atmosphere of fear among investors due to the Corona epidemic. At this time, once again such an atmosphere will be created.
Gold has given great returns in the last few years. In less than five and a half years, gold has become twice as expensive and has crossed Rs.49 thousand. Gold was at Rs 24,500 on January 27, 2016. Experts believe that gold can go up to 60 thousand by the end of this year.
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