Due to Negative Sentiment, huge Discounts have been seen in Gold and Silver in the Market.
The festive season sale of Diwali is going on. Well, the wedding season is about to begin. Despite all this, there is a continuous decline in gold and silver. Globally, due to market expectations, there is a slowdown in gold and silver. According to the data on the IBJA site, between October 10 and 14, there was a significant decline in the price of gold and silver. Let us see how gold and silver rates go up and down according to the session.
Everyday Trading Happens in Gold and Silver.
October 10, 2022: The price of 24-karat gold in the market was Rs 51,119 per 10 grams.
October 11, 2022: – On Tuesday, the price of gold in the market was recorded at Rs 50, 614 per 10 grams.
October 12, 2022: On Wednesday, the third day of the week, the price of 24-carat gold showed a strength of Rs 18 per 10 gram. Due to this, the price of gold in the spot market was Rs 50755 per 10 g.
Due to Negative Sentiment and a Recession in the Market, Metals are Getting Weaker.
There has been a lot of volatility in the prices of gold and silver for some time now. Some big financial companies say that there is a lot of volatility in the NCDEX market. One reason for this can also be that since Navratri, festivals have started continuously in the country. People are doing a lot of shopping in Bazaar due to the festival. The following day, November 24th is the Diwali festival. The wedding season will start right after Diwali. This can also be the reason for volatility.
The Continuous selling of FIIs also has an Effect on the Market.
There was a bad effect on the market everywhere after COVID-19. When there was a lockdown in the whole country, all the people were locked in their homes. The wheel of the same economy has also slowed down. Immediately after the global pandemic, there was continuous inflation in the country. In the month of September, the record high was seen at a rate of 10.2. The Russia-Ukraine war, which has been going on for a year, is also a big reason that has affected export-import.
This is the Right Opportunity for Investors to invest in Gold and Silver.
This is the right opportunity for those who invest in the MCX stock market. The price above which gold and silver are traded. He has for some time. In the coming years, there could be a big boom in gold and silver. By investing today, you can get a lot of profits in the coming years by investing today. Metals are trading near 52-week lows. For those who have already invested, my opinion is that they may have to wait a bit to stay in the market for good profits, but you can take more profits in the coming few years.
