Gold Price Today 04-03-2021: EXCLUSIVE! Yellow metal may slide below Rs 44,000; check this money making idea
Gold Price Today: After hitting its lifetime high of Rs 56,191 per 10 gm at MCX during the COVID-19 pandemic, gold price has slide to the tune of around Rs 12,500 per 10 gm till date
Gold Price Today: After hitting its lifetime high of Rs 56,191 per 10 gm at MCX during the COVID-19 pandemic, gold price has slide to the tune of around Rs 12,500 per 10 gm till date. As per the Zee Business exclusive report, gold price at MCX may further feel the heat of higher US treasury yield and COVID-19 vaccine success in various countries. During a discussion aon Zee Business TV over the falling gold price, panel members said that for people, 'sell on rise' is the ideal strategy as yellow metal price is expected to continue to fall for next two to three months.
Speaking on the money-making ideas in regard to gold price, Vandana Bharti of SMC Comtrade said, "From traders' perspective, gold price is expected to remain bearish for next two to three months. My suggestion for traders is to adopt sell on rise strategy and every rise in gold price should be seen as a selling opportunity till the US treasury yield continue to remain in the northward direction."
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Sudhir of SMC Comtrade went on to add that in next two to three months gold price may come down below Rs 44,000 per 10 gm as success of COVID-19 vaccine is further supporting the higher equity yield leading to bigger fallout from the gold market that we have been witnessing since January 2021.
On what should be the strategy for gold investors, Saurabh Gadgil, Chairman at PNG Jewelers said, "From an investor's perspective, one should start buying gold and continue accumulating on every dip."
Gadgil advised investors to buy gold from current price for the target of Rs 55,000 per 10 gm to Rs 56,000 per 10 gm at MCX.
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