New Delhi. Gold has risen 55% in the last two years. Corona has not sold gold in India and China since February. During this time the world sold about 1900 tons of gold. However, gold is trading at Rs. Reached close to 50 thousand. Experts say the price of gold will continue to rise. Tanya Rastogi, director, India Bullion and Jewelers Association (IBJA), says, 50 thousand per gram of gold may seem expensive, but this is a good time to buy gold. By Diwali, it will be priced at Rs. 82 thousand. '
25,000 tons of gold in Indian households
A report by a company like Addition Investment Research UK also claims that gold prices are hovering around Rs. If it crosses 82 thousand, it will increase rapidly. Even if India and China do not buy gold, its price will not go down. Almost all the countries of the world are currently buying gold. According to IBJA, gold is expensive in a recession. This time it could be that people sell gold for home expenses. However, this has not happened yet. Indians have 25,000 tonnes of gold in their homes, 70% of which is in rural areas.
These 4 reasons keep gold prices rising steadily
Those whose gold was pledged are taking it back
Governments that used to sell gold are now buying it. Two years ago, central banks in 16 countries started buying gold. Those whose gold was pledged are taking it back.
Choose gold for investment
Investors are taking interest in gold due to the downturn in the market. No one knows how long to fight Corona. That is why investors are leaning towards gold.
The interest rate in the US is zero
The price of gold depends on the value of the dollar. If the dollar depreciates, the price of gold is bound to rise. Interest rates in the US have dropped to zero, leading to a rally in gold.
Product-smuggling, both off
Corona has stopped gold production around the world at this point. Its smuggling has also stopped following a worldwide lockdown, which has led to a one-sided rise in gold. The boom will still be there. - Nainesh Pachchigar, Gems & Jewelery Committee