New Delhi After the decision of the US Federal Reserve, the price of Gold Prices and Silver Prices has risen significantly. Gold has crossed the 53500 level on the Multi Commodity Exchange while silver has crossed the 63600 level. As the dollar weakens, the price of expensive metals is increasing.
Here is the quote on MCX
Gold on MCX at 9.15 am August delivery is trading at Rs 53550, up by Rs 412. It opened at 53526 this morning after closing at 53138 on Thursday. Gold for October delivery is trading at Rs 53217, up by Rs 437.
37 percent return given in seven months
Investors continue to have silver in gold this year. In the first 7 months of this year, gold has given about 37 percent returns to investors. This is much higher than the Sensex, Nifty or other asset classes. The price of gold has increased more than Rs 14400 this year. However, this boom in gold is not going to stop. Expert says that gold will continue to rise in August also. He says that amidst increasing cases of corona virus and live political tension, gold will continue to be a safe haven. In August, gold can give 2.5 to 3 percent more returns than the current price.
Month of august is lucky to sleep
If you look at the return history of the last 10 years, the best returns are found in gold in the month of August. Talking about the year 2011 to 2019, in August, the average returns have been 7.51 per cent, which is the highest compared to every other months. In the last 10 years, only 2 years, in the month of August, gold has given negative returns. Talking about this year, many positive factors are in favor of gold. In such a situation, gold will continue to boom. Anuj Gupta says that in August, gold can touch Rs 54500 to Rs 55000. Weakness in dollar, fall in treasury yield, increase in cases of Kovid 19 and Geo political tension are supporting gold.