Today again the prices of gold and silver have fallen. After gold rising steadily to ₹1.80 lakh per 10 grams and silver to ₹4.20 lakh per kg, people did not expect such a sharp decline. Gold and silver are falling as fast as they rose. However, this fluctuation in the prices of gold and silver has not only surprised the common people, but has also proved the predictions of big market experts wrong. Every day gold and silver show a different trend; One moment they rise, the next moment they fall. No one understands when gold will rise or fall, at what price gold should be bought, or how much silver will fall. Know in this article at what price experts are advising to buy gold and silver?
Today’s gold and silver prices
Today again there has been a big fall in the prices of gold and silver. According to the India Bullion and Jewelers Association, silver prices fell by nearly ₹14,000 to ₹2,41,184 per kg in the bullion market on February 6. During the day, silver prices fell by up to ₹45,000. At the same time, the price of gold fell by ₹1013 to ₹1,51,489 per 10 grams. If we talk about the last two days, the price of gold has fallen by about ₹ 7000. RBI did not cut the repo rate, still your EMI will be less, you will save ₹ 20 lakh on a home loan of ₹ 50 lakh, understand the strategy and calculations.
How much have silver and gold fallen so far?
If we compare the prices of gold and silver with their all-time highs, on January 29, gold had reached its record high of ₹1,76,121 and silver at ₹3.70 per kg. Compared to this price, silver has become cheaper by ₹ 1.60 lakh and gold by ₹ 26,000. On MCX, silver is now cheaper by ₹2.41 per kg compared to its all-time high of ₹4.20 lakh.
Why did the prices of gold and silver suddenly fall?
The main reason for the fall in gold and silver prices is profit-booking. As gold and silver prices reached their all-time highs, commodity expert Manoj Kumar Jain believes that gold and silver were in an overbought condition. Profit booking is now taking place due to overvaluation of gold and silver. Gold and silver prices rose sharply to record highs in recent days, leading to massive profit booking by investors, resulting in a sharp fall in prices. Decrease in physical demand due to higher prices was also a reason for the decline. Additionally, a stronger dollar has weakened gold and silver.
At what price should gold and silver be bought?
Everyone is wondering about the future of gold and silver prices: How far will prices fall? How cheap will gold and silver be, or at what rate will it be beneficial to buy gold and silver? According to commodity expert Manoj Kumar Jain, no one can predict how much gold and silver will fall or rise, or when this will happen. Those who have weddings in their families and need to buy gold and silver can buy now. According to Manoj Jain, buying 10 grams of gold for ₹1.50 lakh and 1 kg of silver for ₹2.25 lakh can be a good decision. However, Manoj recommends buying through SIP system i.e. in installments. If you need to buy gold and silver in the next one or two months, he recommends buying small amounts over time.