Gold price in April: Where is the yellow metal rate headed? Will you make BIG profit? EXPLAINED by experts
Gold price in April: Gold price soared as high as Rs 56000 and it has been a downward journey from there on. In fact, it has came down to Rs 44000.
Gold price in April: Gold price soared as high as Rs 56000 and it has been a downward journey from there on. In fact, it has came down to Rs 44000. In short, gold price saw huge volatility in FY21. Now, with the start of the new fiscal in India, investors want to know, where is gold price headed. A poll has been conducted to understand how gold prices will behave in FY22. The poll has done to understand how gold price will move during the month of April and for the entire FY22.
For the month of April, It is expected that Gold price can go up to Rs 46800 on the higher side and Rs 43000 on the lower side for the month of April. Major Analysts expect Gold price to go up from here on. Out of 10 Analysts, 4 expect Gold prices to be over 46000, 5 expect it over 45000 and only one analyst has a target of Rs 43000. This implies that Gold price can move up Rs 1500 to Rs 2000 from here but no major big upmove expected.
Critically, however, for FY22, analysts have given an upside of Rs 52000 for Gold price and downside of Rs 48000. So, gold prices are going to move only upwards in FY22 according to the poll conducted. From current market price, gold price can move up Rs 3000 to Rs 7000 going forward.
Many experts were extremely bullish on Gold price earlier too. They had even given targets of Rs 60000 for the month of December itself. American Markets are seeing a rise in Bond Yield prices and so now it is difficult to see levels of Rs 60000. Also, Gold Market sentiment has turned negative looking at Bond Yield. Crypto currencies are attracting good investments, so a shift is happening from Gold Investment to investment in Crypto currencies.
Many Experts are saying while Gold is an attractive investment opportunity for long term, 30% return given in FY21, same return should not be expected in FY22. Investment in Gold will not give negative returns for sure, but expecting big returns will not be possible. There is neither going to be a strong fall in Gold Prices nor a big rise going forward.
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