From the commodity market to the bullion market, a big decline has been seen in the prices of gold and silver. The prices of gold and silver are falling every day. In the bullion market itself, on Friday the price of 24 carat gold fell by about Rs 2 thousand to Rs 1,21,518 per 10 grams. Whereas the price of silver fell by more than Rs 4000 and reached Rs 1.47 lakh per kg.
At the same time, gold has become cheaper by more than Rs 9000 from its record high and the price of silver has fallen by about Rs 23000. According to MCX, on October 17, gold and silver rates for December futures were trading at their record high. Gold had reached above Rs 1.32 lakh per 10 grams, while price of silver Was 1.70 lakh per kg.
However, after this there has been a record breaking decline in the prices of these metals. Now 10 grams on MCX gold price The price of 1 kg silver is Rs 1,23,255 and the price of 1 kg silver is Rs 1,47,150. After this big fall, the question in people’s mind is whether the prices of gold and silver will fall further?
Why is the price of gold falling?
How much will the price of gold and silver fall further? Before knowing the answer to this question, it is important to know why the prices of gold and silver are falling. According to Reuters report, experts say that after gold and silver reached record high, there has been a wave of profit booking, due to which investors are withdrawing profits from gold and silver.
Apart from this, the tension of trade war between America and China has reduced. Besides, geo-political tension is also reducing at the global level. Another reason is the decline in demand after Dhanteras and Diwali in India.
Will gold and silver continue to fall like this in future also?
Gold and silver have been considered as a safe investment. People buy gold and silver for their future or emergency, so that it can be useful in case of financial need. There may be a risk of loss in other assets in the long term, but experts believe that gold and silver are safe in the long term.
Gold and silver have declined due to profit booking. In such a situation, experts say that we can wait for a few weeks before investing. At the same time, a brokerage estimates that it may fall further by 5 to 6 percent. Some experts also say that if you are a retail investor and are buying gold and silver for long term, then you can invest money in gold and silver anytime.
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