Is it right time to invest in gold? Here’s how to trade in precious metal at current level; Experts weigh in
3 weeks, 3 days ago

Is it right time to invest in gold? Here’s how to trade in precious metal at current level; Experts weigh in

Live Mint  

Gold prices: Gold prices declined on Friday, February 28, marking their largest weekly drop since November. Since the beginning of the year, gold prices have surged by ₹8,310 or 10.5 per cent, rising from ₹79,390 per 10 grams on January 1 to the current ₹87,700 per 10 grams. The US President's announcement of new tariffs on Mexico and Canada, set to take effect on March 4th, strengthened the dollar, exerting downward pressure on metal prices," said Rahul Kalantri, VP Commodities at Mehta Equities Ltd. According to commodities experts, Trump's decision to impose an additional 10 per cent tariff on China, increasing the total tariff rate to 20 per cent on imports into the US, dampened market optimism about the possibility of these tariffs being postponed. Any correction from the current ₹86,400 level toward ₹85,000- ₹84,000 presents fresh buying opportunities, as market sentiment remains firmly positive.

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