The currency factor will keep gold prices under pressure

- Bullion Bits: Dinesh Parekh

However, in the long run, gold prices are likely to rise to વિશ્વ 2,000 in the world market

World gold prices fluctuated during the week by ૯ 15/20 an ounce. The dollar's strength has put a brake on gold gains, but for a while, gold broke the સપાટી 1,200 an ounce level and quoted તરફ 151 an ounce, quoting more than ૮ 1,200 an ounce. Fed Chairman Jeram Powell says he is keeping an eye on the European Union's central bank meeting at a time when interest rates are unlikely to rise in the near future, and has announced that he will not raise interest rates either. Will take bullish measures.

I.G. Market analyst Kryal Roda says gold is thus considered a heavenly investment and praised for its financial security, but at the present stage, as everyone is more confident in the dollar, dollar buying is on the rise and the dollar's victory over gold could pose a new crisis for gold. And it could play a key role in braking the gold boom. At the present stage there will be short fluctuations in gold.

Jared Hayley, a senior analyst at Oanda, says Asian investors are buying gold as gold prices fall, but the recovery of Kovid is slowly improving gold prices.

A slight recovery after the low return of American Treasury bonds over the last five-month session and the rally of the dollar and the return on treasury bills and the re-emergence of Covid are pushing gold towards softness.

The spread of the Delta variant spreads to many countries around the world, and the fluctuations in gold prices are having an adverse effect on the recovery of the world's financial situation. Analysts say the European Central Bank is showing a weakening of the euro against the dollar which gives a negative counter price for gold and its move is trying to lead gold to a softening.

Adrian Ash, director of Bullion Vault, said that as the stock market plummets, gold jumps to a higher price, but instead the hedge fund and other speculators have to pay margins as the stock market plummets to sell profitably. To offset this gold money comes in handy. Thus, the disturbance of the Delta variant during the week, the rise in oil prices, the Fed and the European Central Bank's indication that interest rates will not rise, the softening of gold demand in China and India, etc. destabilize gold and become disorienting. In the long run, gold will rise and prices will break the સપાટી 2,000 an ounce level, but everyone will have to wait.

Local gold prices depend on global price fluctuations. Gold is hovering around Rs 3,000 per ten grams and with fluctuations of Rs 200 per ten grams, prices are hovering around Rs 500 and Rs 2,000 per ten grams.

Gold prices are falling sharply. But due to the lockdown, the household is less. There is less movement of people due to Pandamic. Old silver income is moderately negligible. The house is cool in the showroom. There is less movement of people due to more rains. Importers import a limited amount of silver and sell it at a futures price plus 3% tax.

Traders have said that silver will once again fetch a price of Rs 2,000, but without a sharp decline in global prices, silver will hit between Rs 500 and Rs 21,000 per kg.