Gold Price by Diwali, this year!!

     Written by : SMTV24x7 | Sun, Jun 10, 2018, 03:22 PM

Gold Price by Diwali, this year!!

Hyderabad, June 10: Analysts say gold prices are likely to rise this year. Ten Gram gold is expected to reach Rs 34,000 by Diwali this year. They claim that the rupee's value is shrinking to the geopolitical situation.

According to the sources, Gold prices are likely to hold in the range of Rs 30,000-34,000 per ten grams until Diwali in the domestic market, and internationally the yellow metal might be in $1,260-1,400 an ounce level, Commtrendz Risk Management director Gnanasekar Thiagarajan told media.

In the US, interest rates are increasing. The increase in these rates is due to inflationary pressures and the possibility of investing in gold for the hedge and Thiagarajan analysis that prices have gone up. However, Commodity & Currency Company MD Preity rocket said the gold price of Diwali is estimated at Rs 31,500-31,800.

On June 8, gold price was Rs 31,010 in the domestic market. The price of an ounce in New York market is $ 1,302.70.