The gold market is swinging to the sound of bands, musical instruments and wedding processions. So much so that the price is constantly rising to record highs due to people’s desire to get new jewelery made to enhance the beauty of this wedding season. For this reason, new jewelery for the bride and groom is being made out of compulsion. But people are facing difficulties in dressing up in the wedding procession and enhancing their beauty with new jewellery. However, now the worries seem to be waning a little. Because, 24 The price of carat gold has fallen to Rs 76,190 per 10 grams.
Will the price of gold fall further soon?
A slight fall in the price of gold is a matter of relief for the people. But in the wedding season, the big question is how long will this decline continue. Buy jewelery or gold now or wait for a while. Those investing in gold also have the same concern. Experts claim that due to the wedding season, the increasing demand for physical gold is supporting gold prices in the domestic market. That is, it is clear that the experts of the gold market are clearly indicating that for the time being, do not wait for the gold prices to fall too much for a few months.
Gold price fell by Rs 2900 on MCX
Despite the rise in the price of gold in view of the wedding season, gold has fallen below the record high of Rs 2900 in the Multi Commodity Exchange. The price of gold for February 2024 contract ended at Rs 76,655 per 10 grams. According to commodity market experts, the pressure on the price of gold is increasing due to the rising prices of the US dollar. Therefore, gold prices are expected to remain volatile in the near term. Nevertheless, a positive trend in the prices of this yellow metal is expected for a long time.
Also read: Sensex may cross 1 lakh, Morgan Stanley’s report makes a big claim about the stock market
