'Hash' to global markets: Gold will be cheaper by two percent in the new year

The recovery will be seen in the global economy in the coming days which will lead to a decrease in the demand for gold globally

The US-China trade deal finally ended after two months. The completion of the first phase of the trade deal between the two countries has 'lost' the global economy and the global market. The global market has also seen strength following the move, and the Indian stock market has also hit record highs. Market analysts and analysts believe that gold prices are likely to fall by up to 2 percent in the next period, given the favorable trend arising after the success of the first phase of trade deal negotiations.

The report, released by the analysts after the first phase of trade deal negotiations, which was completed positively, said the move has had a favorable impact on the global equity market. On the other hand, different commodity markets are also calculating that the next time the problem is resolved will be good. Other countries, including India, are expressing strong optimism that the export front will improve after the success of the first phase of the trade deal.

Discussing the Boolean market, analysts said the success of the first phase of the trade deal will be seen in the coming days. It should be noted that since the inception of the trade deal, gold has fluctuated. Now, if the first phase of the trade deal is not successful, then the price of gold will also fall. The rupee is also trying to freeze against the dollar in the futures market. However, even so, he has returned to the previous level. These factors will also play a role in the fall in gold prices, analysts added.

Citing the findings of this study, Bullion market sources said that due to high prices, gold and silver markets of the country have been stunted. After the success of the trade deal, if the price of gold falls in the next period, then the market will rebound. According to analysts, gold prices are likely to drop by mid-January. This could increase the price of gold in the coming months. Earlier, the demand for gold was low.

However, with the passage of time, the beginning of the festive season and the onset of the wedding season has gradually increased in demand. He said eight tonnes of gold was imported in October. In November, gold was imported in the last five tonnes. This shows that demand is increasing. We expect this trend to continue until February 7. If the price is between 5-7-8 per 5 grams, then we can estimate the demand for gold for 2-3 tonnes monthly.

Earlier, gold was trading at around $ 5-9 after it touched a high of $ 5 and was consolidated in the $ 5-8 range. Analysts say the US Federal Reserve is unlikely to cut interest rates next year. Thus, looking at all these issues, there will be a recovery in the global economy in the coming days, which will lead to a decrease in the global demand for gold in the coming days. This will result in a drop in prices.

Thus, with the completion of the first phase of the trade deal and the subsequent trade talks on this issue being more positive, gold prices are likely to fall at the beginning of the new year.