News India Live, Digital Desk: In recent years, the demand for gold has increased rapidly worldwide, causing its prices to reach record levels. But now Kazakhstan’s leading gold mining company Solidcore Resources PLC has claimed that there may be a huge decline in the price of gold in the coming time.
CEO Vitali Nesis at the Solidcore Resources has predicted that the price of gold in the international market in the next 12 months may have fallen from $ 3,300 an ounce to $ 2,500 an ounce. This will directly affect the Indian market, due to which the price of gold can be reduced from about Rs 99,000 per 10 grams to about Rs 70,000 per 10 grams. That is, gold is likely to be cheaper by Rs 27,000.
Nesis clarified that gold prices would not go up to $ 1,800–1,900 level, but the surge in the current prices is a reaction to some global events, which is now likely to decrease.
In recent times, the price of gold has already seen a decline in the price of gold due to signs of strengthening of US dollar and a decrease in US-China trade tension. China is considering removing some heavy duty on US imports, which can improve trading relations between the two countries. For this reason, the strength of the dollar in the market is increasing, which has a negative effect on gold prices.
There has been a tremendous increase in gold prices in the last ten years. At the time of Akshaya Tritiya in 2014, the price of 24 carat gold was around Rs 30,000 per 10 grams, which has now increased to Rs 99,000. During the Corona period and global economic instability, gold gave great advantage to investors. But in the current situations it is necessary for investors to take precautions.
Experts say that investors need to be vigilant, as the price of gold depends on international events and global economic conditions. Investors should carefully decide their investment strategy to protect them from any kind of damage.
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