Gold Price Prediction: The prices of gold and silver continue to fluctuate continuously in the domestic future market. On Friday, November 14, there was a huge fall in the prices of both these precious metals. Gold futures with expiry of December 5 on Multi Commodity Exchange (MCX) had fallen by around Rs 3300 on Friday.
At the same time, silver also slipped by around Rs 6900. In such a situation, the question coming in the minds of investors is whether there will be a rise in the prices of gold or whether its prices will come down. According to a report published in Moneycontrol, gold prices may see a rise in the coming days.
What do market experts believe?
Chetan Mehta, Chairman and MD of Lakshmi Diamonds, told Moneycontrol that in the coming days, central banks and investors globally may continue buying gold. Due to which gold prices are likely to rise.
According to Mehta, after Diwali the prices of gold have increased by 10 to 15 percent and he is confident that the prices of gold will go up further. He has estimated an increase of 10 to 20 percent.
People are exchanging old gold
Giving further information, Chetan Mehta said that this time a special trend is being seen in gold purchasing. People are exchanging old gold in large quantities. According to Mehta, about 40-50 percent of gold sales in Diwali season purchases were from exchange gold. However, he has expected it to be 20-25 percent in the current quarter.
Also, people are investing more money in gold investment than gold jewellery. Mehta said that a change may be seen in the wedding season. Giving information on diamonds, Chetna Mehta said that the demand for small and mid-weight diamonds remains strong. At the same time, there is a decline in the sales of solitaire.
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