Gold bullish trends

- Now look at 00 1,900: Domestic import costs rise behind global markets

- Bullion Bits-Dinesh Parekh

Gold is the king of precious metals in the world market and is the chain of crisis times in times of financial crisis. In addition, it provides security against inflation. Goldman Sachs states that at the present stage two factors are responsible for the high price of gold. The first softer US dollar is the soft dollar against other currencies and the second is gold market demand.

Good news from the Fed's data earlier this week and a softer dollar forced gold to hit ડો 1,200 an ounce, and after seeing gold prices as high as ૮ 1,303 an ounce, the dollar soared again, hitting between અને 150 and ૭૯ 120 an ounce. At the end of the week, gold rose by ૮ 1,215 and silver by ૬ 3.05.

It should be noted that the occupation of Afghanistan by the Taliban has created a global crisis. Though Russia, the US and EU countries, India and others have expressed concern and indirect support for Pakistan and China has created an atmosphere of fighting, gold has not seen a big rally.

Gold is currently at a bullish-bearish crossroads. The new fear of Pandamic is beginning to reappear. It would not be a surprise if the new variant corona creates a global crisis by redesigning it, resulting in higher demand for gold and forcing the price of gold to go up to ૯ 1,200 an ounce. Overall, gold is not depreciating by 150 an ounce and will gradually improve.

It is to be noted that silver has not seen a glimmer of price after 190 and the general public's view of silver buying in 2011 has not seen the rise in gold. Gold went from ૯ 500 to ૯ 1,200 an ounce, but silver never saw a 60 an ounce price again and has seen a softening all the time. But analysts say that after 2011, silver will once again see a resurgence in 202 prices, and the implied rally in silver will again push silver prices higher by ૫ 60 an ounce.

Peter Croth says silver will show higher prices in the near future. Patrick Karim says there will be a rally in silver and gold prices and he is not worried about lower silver prices as the price of this precious white metal will rise to ડો 50 an ounce but it requires patience.

The price of gold will not go down and it is advisable to buy gold at this price. Mumbai silver prices are influenced by global market prices. Silver futures fluctuated by Rs 1,000 per kg. The futures were at a high of Rs 30 and a low of Rs 200 per ten grams. At present, the price of silver is quoted at a high of Rs 200 and a low of Rs 200 per kg. It is available at Rs 150 per kg lower than the present price of silver bills. There is a gap of Rs.500 per kg between spot silver and futures.

A few households have left the showroom and manufacturers are buying silver to make coins for the new festive days. The industry sector is buying silver at all prices. Old silver revenues have fallen sharply. Thus the silver that India used to export today satisfies the domestic demand by importing silver from all over the world. Investors are buying silver at lower prices and looking for a chance to make a profit on Diwali. Overall silver prices are not declining.