Global growth and the fall in equity markets in gold investment demand is growing.Since January 1st 2016 the price of gold has to rise to Rs 4,000. Rs 28,000 per ten grams in the domestic market has reached across.In the next two months, gold prices could go up to Rs 29500.
Gold 16.67 per cent from January 1 to February 9
|
Market
|
On January 1, 2016 price
|
9 February 2016 price
|
Changes in Rs
|
Percent change in
|
|
Delhi
spot
|
Rs 24,500 per ten gram
|
Rs 28 585 per ten gram
|
Rs4085 per ten gram
|
16.67 percent
|
|
Mumbai
spot
|
Rs 24,500 per ten gram
|
Rs 28,400 per ten gram
|
Rs 3,600 per ten gram
|
14.69 percent
|
Gold prices could go up to Rs 29500
Angel Broking associate director (commodities and currencies), Naveen Mathur told Mnibaskr global growth concerns and the sharp decline in equity markets boosted investor sentiment, gold .Looking at the current situation in the coming months, gold could touch 29100 levels per gram.
$ 1200 gold in the international market across
June 22nd 2015, after gold in the international market for the first time on Monday rose above $ 1,200 per ounce. Gold has shown 5 percent.Which is the biggest rise since July 2013. In the past month, gold prices have risen by over 10 percent.
Since 2011, the longest boom in gold
The longest since July 2011. Gold prices are getting up on.Gold is showing the last 8 sessions fast. It lasted 11 days in a row in 2011, gold was visible.
Why gold prices
Increasing investment demand in gold bar
Gold and silver in the last three years had negative returns. Investors continue to invest in gold, which were saved from.But the concerns of global growth equity market is showing a decline in gold prices gained.
The decline in the dollar index has the advantage
In the US, the service sector and the labor market weakened after data showed a sharp decline in the dollar index.99 levels in the past five days, the dollar index has come down from a level of 96.
The yields from the decline of the stock market
Domestic stock market returns are good for three years seeing a large drop in the.From January 1 to February 9, 2080 points or 8 percent of the index has dropped. The global equity markets have come to the 3-5 year low.The good returns for investors are putting money into gold.
SPDR's gold holdings increased
The world's largest gold ETF SPDR Gold Trust, since the beginning of 2016 have so far purchased 60 tons of gold.SPDR Gold Trust at the end of December, about 644 tonnes of gold reserves had increased to 703.52 tonnes, which was reached on Monday.
Jewellery demand grew in marriage season
Delhi Bullion & Jewellers Association President Yogesh Singhal said in the past month due to marriage season has increased domestic demand.Why prices are rising sharply. By mid-March, and the demand for gold is expected to rise.
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