Gold Price Outlook: After expanding to a lifetime high of 56,191 rupees per 10 grams on MCX in August 2020, gold prices have fallen sharply, reaching a correction of around 11,500 rupees per 10 grams in the last six months. The gold price of the MCX today was 44,640 rupees, which was lost even after falling below 44,000 rupees per 10 gram level a few days ago. Gold and silver price experts say the gold price crash is expected to continue as stock market yields and US Treasury yields show signs of recovery. Therefore, people are expected to withdraw money from gold investments and invest in the stock market. This is the exact opposite of what happened during the uncertain times when the COVID-19 epidemic was uncertain.
Talking about the outlook for gold prices; Vandana Bharti, AVP — SMC Comtrade’s commodity research told Zee Business: Rising gold prices should be seen as a selling opportunity until US Treasury yields remain northward. “
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SMC Comtrade’s Vandana Bharti further supports gold prices of Rs 44,000 per 10 grams in the next few months as the success of the COVID-19 vaccine further supports higher stock yields and leads to greater fallouts from the gold market. He added that it could fall below. We have been witnessing it since January 2021.
AVP, Anuj Gupta — Angel Broking’s commodities and currency trading said: “After the gold price rose to a lifetime high of 56,191 rupees in August 2020, the MCX plummeted by more than 11,500 rupees per gram. The stock market hit a record high and US bond yields were northward. Crude oil prices are also rising, so that levels no longer exist, so gold selling pressure is expected to continue. “
Gold Price Outlook: Yellow Metal has fallen by more than Rs 11,500 in the last six months.Much more likely to crash
https://www.zeebiz.com/personal-finance/news-gold-price-today-06-03-2021-yellow-metal-falls-by-over-rs-11500-in-last-six-months-may-crash-much-more-151923 Gold Price Outlook: Yellow Metal has fallen by more than Rs 11,500 in the last six months.Much more likely to crash