Gold Price Alert: The price of gold has been rising for several days and has finally come down a bit. Due to Donald Trump’s policies, concern spread worldwide, and the cost of gold constantly increased. However, this concern remains; despite this, gold has become a little cheaper today. This fall in gold prices is good news for investors and an excellent opportunity for them to buy.
Why did they fall?
On Tuesday, gold prices reached a record high, but they have come down slightly today. According to Good Returns, there has been a significant fall of Rs 700 in the price of gold. Yesterday, the cost of 10 grams of 24-carat gold was Rs 87,380, down to Rs 86,670 today. This fall in gold prices is due to profit booking. However, its prices may rise again in the future.
What is the opinion of experts?
Experts say the reason for the decrease in the price of gold is profit booking. Investors have booked their profits, which is a good strategy. Investors investing in gold around Diwali last year should sell some gold and make a profit. He also says that concerns about Trump tariffs remain at the international level. In such a situation, gold can again rise quickly. Therefore, this decline is temporary.
How are prices affected?
Gold prices in India are affected by demand and supply, as well as international activities. Trading activities in major global markets, such as the London OTC Spot Market and the Comex Gold Futures Market, significantly affect gold prices.
Who decides the price?
The London Bullion Market Association (LBMA) decides the price of gold worldwide. It publishes the price of gold in US dollars, which serves as a global benchmark for bankers and bullion traders. At the same time, in India, the Indian Bullion Jewelers Association (IBJA) decides at what rate gold will be given to retailers by adding import duty and other taxes to the international prices of gold.