Shooting Gold price- touches Rs. 28000 mark per sovereign - may reach Rs. 30000 in 1 or 2 days!
Posted on: 08/Aug/2019 4:45:55 PM
The price of gold has shown an astronomically increasing trend over the last 2 months! Yesterday (Wednesday, 7th August, it had crossed the Rs. 28000 per sovereign mark!
The traders observe that with this trend of jet-speed rising prices, the gold price may touch the Rs. 30000 per sovereign in a couple of days - before this weekend!
The main reason attributed to the astronomical price increase of gold is the whole lot of changes currently happening in the international economy.
The price of gold per sovereign on 1st August was Rs. 26480. However, by 2nd August, it had shot up by Rs. 584 and crosses Rs. 27000 mark per sovereign!
Even after this, the gold price kept increasing with every passing day and on 6th August, gold sold at Rs. 3483 per gram.
In the above scenario, as on yesterday (Wednesday, 7th August) evening, the price had shot up by another Rs. 74 and gold was sold at Rs. 28376 per sovereign!
The public has been stunned as the gold price had shot up by Rs, 1896 per sovereign within a week’s period! At the same time, those who had invested in gold were rather cheerful!
The gold jewellery traders attributed that the fluctuation in the present international economy as the main reason for this unprecedented trend of rising in the gold price.
With the job opportunities coming down and productivity showing a decrease, the investor had felt unsafe investing in the share market and found it safer to invest in gold instead! This trend has led to the phenomenal increase in the gold price. The traders observe that within the next 2 days, there are indeed prospects of gold price touching the magic figure of Rs. 30000 per sovereign!
