News India Live, Digital Desk: Gold Crash: The trade agreement between the US and China late on Sunday night has caused a stir in the global markets. Due to the impact of this agreement, there was a major decline in gold prices on Monday morning. In the international market, gold is trading at $ 3267 an ounce on comex, which shows a decline of nearly 2.5 per cent.
Although the New York market is not open yet and will open on Monday evening, the prices currently being released are based on futures trading. In the Asian markets, the fall in gold prices has started to see the fall, especially after the opening of the markets of Japan and China, it is clearly visible. Now it is the turn of the Indian market, which is going to open soon and it is expected that prices will start falling here too.
Analysts say that if the gold closes below $ 3270, it can fall from 2800 to 3000 an ounce. In this situation, the price of gold in India can reach Rs 90,000 per 10 grams.
Till recently, gold prices were increasing continuously, mainly due to the ongoing tariff war between the US and China. This tension was pulling global investors towards safe investment, with gold the most important option. But now that the trade tension between the two countries has come down, investors have moved to risky assets, which has led to a decrease in demand for gold and prices have declined.
Although the fall in prices may be a matter of concern for investors, many experts are considering it to be a good shopping opportunity. They believe that if gold comes within a radius of $ 2800-3000, it can prove to be a good opportunity for long-term investment, as its price is likely to increase again in the future.
Now everyone’s eyes are on the American commodity market on Monday evening. When it is opened, it will be clear what will be the final impact of the trade agreement on gold prices.
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