Gold price at its new high ? Will it sustain there ?
Gold has increased 15 % in last quarter. Gold has reached new high. But the main question is will it continue to grow to new heights or it's time for gold to decline ? For the answer we have to check the reasons for making gold so precious.
The reasons are :
It's now obvious that US is facing a recession, naturally US $ is weaker against other currencies. Globally share markets are very weak. So investors have turned to buy gold for investment. Crude prices are very high resulting in increase in price of gold. Till recession period in US is not over, global shar markets and US $ will remian weak, crude prices will be higher and that of gold, too.For domestic market, FM in his budget has risen the tax exemption limit. People will have more money which formerly they used to pay the tax. Now with this money most of people in India will go for savings. And gold is the best option of savings in India.So in my opinoin gold prices will hike more.
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The reasons are :
It's now obvious that US is facing a recession, naturally US $ is weaker against other currencies. Globally share markets are very weak. So investors have turned to buy gold for investment. Crude prices are very high resulting in increase in price of gold. Till recession period in US is not over, global shar markets and US $ will remian weak, crude prices will be higher and that of gold, too.For domestic market, FM in his budget has risen the tax exemption limit. People will have more money which formerly they used to pay the tax. Now with this money most of people in India will go for savings. And gold is the best option of savings in India.So in my opinoin gold prices will hike more.
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2 comments:
Thanks for Sharing! Could you describe What type of investment should I choose?
Forex Trading
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Good information. Thanks for sharing.
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