Gold became cheaper by Rs 3,600 a week before Holi, see fresh price

Gold And Silver Rate: In the month of February, the price of gold has fallen by 6 percent i.e. by Rs.3600. Due to which the price of gold has come down below Rs.55,300.

Gold And Silver Rate Today: In the month of February, there has been a decline in the price of gold. On February 2, the price of gold made a record of life time high and it seemed that gold would first break the record of 59 and then 60 thousand by Holi, but this did not happen and one of the biggest festivals of the year is about to happen. Already a week ago, gold is looking cheaper than the high of Rs 3,600 per ten grams. Let us also tell you that after all, how much has the price of gold become at present and how much can it be in the coming days?

how cheap gold became

  1. On February 2, gold was at a lifetime high of Rs 58,847 per ten grams.
  2. On 27th February i.e. today the gold price reached a low of Rs 55,290 per ten grams.
  3. This means that gold has become cheaper by Rs 3,557 per ten grams during this period.
  4. Today the gold price opened with Rs 55,397 per ten grams.
  5. During the trading session, gold reached the high of the day with Rs 55,400 per ten grams.
  6. On Friday, gold had closed with Rs 55,432 per ten grams.
  7. Gold has broken more than 6 percent from the all-time high in February.

what caused the decline

According to IIFL Vice President Anuj Gupta, the US Fed is expected to increase interest rates once again, due to which the dollar index has gained momentum and has crossed the 105 level. At the same time, there has been a decline in the demand for gold. Because of which there is a fall in the price of gold. The chances of its continuation are being seen.

Will gold become cheaper?

According to Ajay Kedia, director of Kedia Advisory, the fall in the price of gold will depend on the rate cut by the US Fed. According to Ajay Kedia, if the Fed increases the interest rate by 0.25 percent, then there will not be much fall in the price of gold, but if there is a rise in the interest rates by 0.50 percent, then the price of gold can reach the level of 54 thousand, but Will not go below 54 thousand. He told that in the month of January, there was a rise of 5 percent in the price of gold, which has been lost in February.

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