With the announcement of US President Donald Trump to increase the duty on sugar products, gold prices have started to rise early on Monday and today, due to the Akshaya Tritiya in the Indian market, gold sales are also on the horizon.
US President Donald Trump warned on Sunday to raise tariffs on Chinese products worth $ 200 billion. This has increased the fear of trade war between China and America. Now investors are betting on low-risk and safe assets, which led to the rise in gold prices on Monday. Spot gold was up 0.3 percent to $ 1,282.38 an ounce. At the same time, US Gold futures rose 0.2 percent and it was trading at $ 1,283.90 an ounce. The Indian market also saw an increase of 0.8 percent compared to Sunday, and on Monday it was at 31, 550 rupees per 10 gram level.
Investing in gold will increase
Anand, chairman of All India Gem and Zoology Council Council, says, "The sudden rise in gold prices on Monday will definitely attract investors because gold is the safest asset class. However, on Akshaya Tritiya, we are getting very less demand from the youth. " He said, "We are also trying to find other ways to attract youth towards Gold."
The price of gold will increase
Analysts say that considering the global uncertainty, the prices of gold are expected to further strengthen. Senior analyst (commodities) Tapan Patel says, "The recent global move by the American president is a global business world. This has led to uncertainty about trading deals. This news has fueled the fear of economic reforms with FED's peace stance and weak statistics from Europe-China.
The central bank of China and Russia can also increase the purchase of gold because of the business dispute, because in 2018 there was an increase in the purchase of gold after the trade dispute increased. If the situation worsens even further, the interest of investors and investors in gold and gold can increase further. Patel said, "The second half of the year will be very important for the global markets. We estimate that gold will continue to trade around $ 1250- $ 1350. It will be possible to come down only after the trade war is settled. "The business environment in Mumbai's Zaveri Bazaar was very good on Monday.
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US President Donald Trump warned on Sunday to raise tariffs on Chinese products worth $ 200 billion. This has increased the fear of trade war between China and America. Now investors are betting on low-risk and safe assets, which led to the rise in gold prices on Monday. Spot gold was up 0.3 percent to $ 1,282.38 an ounce. At the same time, US Gold futures rose 0.2 percent and it was trading at $ 1,283.90 an ounce. The Indian market also saw an increase of 0.8 percent compared to Sunday, and on Monday it was at 31, 550 rupees per 10 gram level.
Investing in gold will increase
Anand, chairman of All India Gem and Zoology Council Council, says, "The sudden rise in gold prices on Monday will definitely attract investors because gold is the safest asset class. However, on Akshaya Tritiya, we are getting very less demand from the youth. " He said, "We are also trying to find other ways to attract youth towards Gold."
The price of gold will increase
Analysts say that considering the global uncertainty, the prices of gold are expected to further strengthen. Senior analyst (commodities) Tapan Patel says, "The recent global move by the American president is a global business world. This has led to uncertainty about trading deals. This news has fueled the fear of economic reforms with FED's peace stance and weak statistics from Europe-China.
The central bank of China and Russia can also increase the purchase of gold because of the business dispute, because in 2018 there was an increase in the purchase of gold after the trade dispute increased. If the situation worsens even further, the interest of investors and investors in gold and gold can increase further. Patel said, "The second half of the year will be very important for the global markets. We estimate that gold will continue to trade around $ 1250- $ 1350. It will be possible to come down only after the trade war is settled. "The business environment in Mumbai's Zaveri Bazaar was very good on Monday.
For more information on stock market, you can also like our twitter page.
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