Gold price today: Yellow metal jumps 11.7% in 2022. Will it breach lifetime high?
Golden price today: After registering its biggest weekly gain since May 2021, Multi Focodity Exchange or MCX Gold Open Rate today with an increase range of 717 € for 10 g of 10 g Son Friday close 52 549 € per 10 gm. If we examine from the point of view of the year, the Golden Tariff MCX recorded 11.70% in 2022. On the spot market, the price of yellow metal today violated $ 2,000 by levels. ounce, operating about 8.80% of the year’s rise in date.
Because of the brilliance in gold prices
According to the commodity market experts, this increase in the price of gold can be attributed to three main reasons – a growing tension in Russia-Ukraine, the rise in US 50 BP interest rates being excluded In March 2022 and major commodity prices in the mountains. Year of high inflation inflation inflation in alarming levels. They said that if this gathering in the ingot metals supports and that the price of gold on the spot manages to exchange above its current support of $ 1970, it can break its life time of $ 2075 per ounce on The spot market and 591 of 10 gm at MCX.
Talk about the reason for rising the price of gold; Sugandha Sachdeva, Vice President Chairman – Research on raw materials and currency on religare Broking Ltd Ltd, “Gold prices increase due to climbing in the tension in Russia-Ukraine. Apart from this, a 50 BPS interest rate rate increase is now excluded as US Fed officials talk about rising BPS interest rates at the US Fed meeting Expected on March 15-16, 2022. More supporting GOLD’s rise trajectory is the increase in commodity prices to multi-year highs that have prompted inflation concerns at alarming levels. “
Gold price prospects
On what could be the next golden target; Anuj Gupta, Vice President of IIFL Securities said: “Gold has infringed $ 2,000 on the spot market and it seems to go around 2050 by levels of ounces. In MCX, the price of gold are on The point of touching levels of 54,000 in the short term. ” He stated that the outbreak of crude oil prices connected nearly 60% CMX rising and adding pressure on Indian Rupees that should be about 77 short-term levels On the question of whether the price of gold will violate its high life; Sugandha Sachdeva Religo’s commodities said: “If this rally supports and the price of gold in cash remains above its current support of $ 1970, we can then expect that it violates its time High of $ 2075 per ounce on the spot market and 56 191 from € 90 to MCX. “
However, the Anuj Gupta of IIFL titles argued that there will be strong volatility in gold prices and that the broader range of the market beyond will be from 1970 to 2050 dollars per ounce and to know once Its levels instead of being confused with the volatility of commodity markets. Wait for a result reservation after the movements of the net rise; Vidit Garg, director of Mygoldkart, said, “Technically, if we see the graphs removing the noise of the war, it seems that for once, it can go down to $ 1950 or $ 1940 with ounce levels , which reflects that we could testify to the exhaustion and profit of the buyer. Booking by them. 9 EMA Period on the Intraday Chart is $ 1981, while 21 days is $ 1968 per ounce. “
