Gold outlook: Gold falls for the fourth consecutive week, know what is the opinion of experts about buying

Sugandha Sachdev, Commodity Vice President, Religare Broking said that gold is currently at its lowest level in 3 months. Now the dollar will strengthen further, due to which the pressure on the price of gold will increase.

May 15, 2022 | 6:35 am

TV9 Hindi , Edited By: Sanjeet Kumar

May 15, 2022 | 6:35 am




Due to the action of the US Federal Reserve and the reaction of the dollar, pressure is being seen on the price of gold continuously for the last four weeks.  The dollar index reached the level of 105 and this is a new record high of two decades.  In the domestic market, gold closed at Rs 49909 per ten grams below 50 thousand.  In the international market, gold closed at the level of $ 1810 per ounce.  It has broken the strong support of $1820.  Now the question arises whether gold will fall further or is this the right time to buy.

Due to the action of the US Federal Reserve and the reaction of the dollar, pressure is being seen on the price of gold continuously for the last four weeks. The dollar index reached the level of 105 and this is a new record high of two decades. In the domestic market, gold closed below 50 thousand at Rs 49909 per ten grams. In the international market, gold closed at the level of $ 1810 per ounce. It has broken the strong support of $1820. Now the question arises whether gold will fall further or is this the right time to buy.

In a report published in Mint, Sugandha Sachdev, Commodity Vice President, Religare Broking said that gold is currently at a 3-month low.  Investors are investing their money in US dollars and US bonds.  Due to this, interest in gold is decreasing and pressure is being seen on its price.  Due to record inflation, the US Federal Reserve will increase the interest rate further.  This will further strengthen the dollar.  The Ukraine Crisis has slowed down the pace of the global economy.  In such a situation, investors are also buying dollars due to fear of economic slowdown.

In a report published in Mint, Sugandha Sachdev, Commodity Vice President, Religare Broking said that gold is currently at a 3-month low. Investors are investing their money in US dollars and US bonds. Due to this, interest in gold is decreasing and pressure is being seen on its price. Due to record inflation, the US Federal Reserve will increase the interest rate further. This will further strengthen the dollar. The Ukraine Crisis has slowed down the pace of the global economy. In such a situation, investors are also buying dollars due to fear of economic slowdown.

Sachdev said that recently the inflation data for the month of April has come out.  In the US, the inflation rate in April was 8.3 percent, which is higher than the market estimate.  However, it has weakened slightly compared to March.  Now there is every possibility that when the Federal Reserve meets in June, the interest rate will be increased by 0.50 percent.

Sachdev said that recently the inflation data for the month of April has come out. In the US, the inflation rate in April was 8.3 percent, which is higher than the market estimate. However, it has weakened slightly compared to March. Now there is every possibility that when the Federal Reserve meets in June, the interest rate will be increased by 0.50 percent.

Commodity expert Pritam Patnaik of Axis Securities said that the dollar will strengthen further on the fundamentals basis.  Right now the pressure on the price of gold is clearly visible.  Further decline cannot be ruled out.  Sugandha Sachdev said that gold in the international market will now go towards 1780 dollars, while in the domestic market gold can fall to the level of Rs 48800 per ten grams.  As long as gold remains at this level, its trend will be positive.

Commodity expert Pritam Patnaik of Axis Securities said that the dollar will strengthen further on the fundamentals basis. Right now the pressure on the price of gold is clearly visible. Further decline cannot be ruled out. Sugandha Sachdev said that gold in the international market will now go towards 1780 dollars, while in the domestic market gold can fall to the level of Rs 48800 per ten grams. As long as gold remains at this level, its trend will be positive.

If someone wants to invest in gold, then he should wait for a while now.  Its price is under pressure in the short term.  It would be advisable to buy gold at the level of 48800.  On recovery it will easily reach the level of 51200.

If someone wants to invest in gold, then he should wait for a while now. There is pressure on its price in the short term. It would be advisable to buy gold at the level of 48800. On recovery it will easily reach the level of 51200.






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