Buy gold heavily now, gold price will rise at rocket speed in 10 days!

Surprising the whole world, the RBI has kept the monetary policy rate stable, that is, it has not made any changes. Due to this surprise of the Reserve Bank of India, a lot of restlessness has arisen among the investors. Now everyone is engaged in the same calculation that how their portfolio will be affected by this stance. By the way, experts say that there can be an increase in the demand for gold. Due to which the price of gold can run away with the speed of rocket. Its signs are being seen in MCX. There has been a rise in the prices of both gold and silver.

On the other hand, the stock market has also welcomed the decision of RBI. After the announcement of RBI, the stock market has recovered 400 points from the day’s low. On the other hand, the 5-year bond yield has increased by 7 per cent. According to experts, the decision to bring any change in interest rates can see a boom in the stock market, but the bond market can give more returns than FD and debt in the short term. Let us also tell you what kind of impact can be seen on invest assets due to RBI’s decision.

Gold price can come to Rs 62,500

RBI has not made any changes keeping the repo rate at 6.50. Because of which a rise in the prices of gold and silver can be seen. After reaching the record high, after a slight correction in the price of gold, it is expected to increase further. According to experts, in the coming 10 days, the price of gold can reach Rs 62,500 per ten grams.

Read this also:- RBI Repo Rate: Global Economy’s ‘Pathan’ became RBI Governor, know what big decision was taken

Gold demand will increase

According to Ajay Kedia, director of Kedia Commodity, there will be an increase in gold demand after RBI’s decision. The way there has been a slight rise in the rupee and Akshaya Tritiya is about to come, gold is going to get a lot of support. On the other hand, IIFL Vice President Anuj Gupta told that gold will increase and it is expected to reach Rs 62,500 per ten grams in the short term. He told that ever since the RBI’s decision came, gold has recovered up to Rs 200.

Read this also:- RBI Repo Rate Hike: Interest rate hiked for the 7th consecutive time, home and car loan installments increased

How much have the gold prices become

There is a slight decline in the price of gold on the Multi Commodity Exchange. Gold is trading at Rs 60,705 with a fall of Rs 150 at 1.45 pm. While gold fell by Rs 300 to Rs 60,567 during the trading session. By the way, today gold prices opened at Rs 60,679. Gold prices had closed at Rs 60,856 a day ago. On the other hand, the price of silver is trading at Rs 74,610 with a slight gain of Rs 74. By the way, in the morning, silver fell by about Rs 300 to Rs 74,251.

Also read: – Stock market sluggish before RBI’s announcement, Sensex down by 129 points

Positive impact on equity market as well

The decision to keep the repo rate unchanged has given a positive signal to the banking and NBFC sector. This will also give benefits to other sectors like real estate and infra. However, persistent inflation and the Global Banking Crisis remain a matter of concern. On the impact of RBI MPC meeting outcome on equities, Sonam Srivastava, Founder, Wright Research, said that from the stock market perspective, the decision to keep the repo rate unchanged in the RBI MPC meeting will have a positive impact, especially on the banking sector.

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