In the recent past, investors from all over the world have increased their confidence in the yellow metal as a safe investment, as the huge increase in gold prices next year. Experts in the bullion market say that the price of gold could go up to Rs 63,000 per 10 grams next year.
This would be possible given the huge potential of the stimulus package from the government and the softening of the US currency. In the domestic market, gold was at Rs 39,100 earlier this year, reaching a high of Rs 56,191 by August.
At that time, the price of gold per ounce (about 28.35 grams) in the international market also reached the level of $ 2,075. In the wake of the epidemic, investors turned to invest in gold rather than risky options. With the improvement in the situation, prices also showed moderation. In recent times, gold prices have started rising once again.
Gold has always been counted as a safe investment. Comtrade Risk Management Services CEO Ganeshekhar Thyagarajan said that due to economic stimulus, investment in gold in the domestic market took place at a fast pace. Despite the news of the Corona vaccine and the return of the economy, gold demand as an investment remains intact. This is based on the expectation of the stimulus package.