Amid fears of a third wave, the bullish trend in gold will pick up again

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Gerald Powell, chairman of the US Fed in the global market, said on Tuesday that looking at the pace of rising inflation, "we should not rush into the signals of interest rates and indicate that the possibility of an increase in interest rates is low." Has just changed and has taken a bullish direction by forcibly snatching that grip from the hands of the bears. The 7 per cent fall in gold prices last week has taken a break and everyone is again hoping that they will be attracted to invest in gold if they are allowed interest free money. As a result, the price of gold rises. Gold was trading at ૭૭૮ 15-16 and silver at ૨૬ 3.05 to ૨૬ 2.08 over the weekend.

Oil prices are rising. The US Fed's new policy will make the dollar easier and the central banks of each country will continue to buy gold which will not reduce the demand for gold and keep the demand rising.

There are two articles in the US newspaper that if the price of gold goes up from ૨ 2,000 to ૦૦ 3,100 an ounce between August and September, there is some confusion as to how the recession will pick up. There is an implied bullishness in gold so the bullish trend seems to be true.

Gold saw a new turn in the Fed's new policy, rising oil prices, fluctuating the dollar, a red eye against China's cryptocurrency, and demand for gold, and central banks continuing to buy gold. In it, new variants of the Covid-12 corona virus are coming in. Every country wants to keep people safe by putting more emphasis on vaccines. Continuing financial flows will increase the flow of money into the market and increase the flow of money to motivate people to invest in gold. As a result, gold is expected to hit ડો 2,000 an ounce this year, according to experts and analysts.

Large silver purchases and a slowdown in lockdowns have exacerbated the shortage of silver, which has led to a sharp rise in supply. In the domestic gold market, the global fluctuations in gold prices have had a definite effect and gold fluctuates by Rs 20 per ten grams. The import of 10.1 tonnes of gold in May is said to be very low but it has improved against the import of gold in May 2021 as against 1.5 tonnes in May 2020.

Revenue from old gold jewelry is rising a bit and consumers are coming to sell jewelry. The export of gold jewelery is moderate against the growing trade in the diamond market and the lockdown in the world market has led to lower exports and lower demand.

Jewelery traders expect gold jewelery to be sold in greater quantities gradually and gold will bounce back in demand. Overall, gold prices will rise to more than Rs 20,000 per ten grams.

In the Mumbai silver market, the softening of the global market has brought down the price of silver to Rs 200 per kg. It is to be noted that the price of spot silver is Rs. 200 per quintal while the price of spot silver is around Rs. 2000 per quintal.

Imported silver satisfies everyone's demand as the income of old silver is negligible. Investors are buying silver at this low price and will make a profit in the long run. Overall, everyone believes that silver prices will strengthen and show a price of Rs 5,000 per kg again.