Don't buy gold now .. wait.. what experts say is the reason ..!
Although the price of gold has not changed much at present, it has gained strength in the last session. It still looks like it's on the rise.
This is the data on the US Consumer Price Index released in the last session, which has led to fears that it could lead to inflation as the market is adversely affected.
As a result, the price of gold, a safe haven, has risen sharply.
Excellent hedging
And it is expected that amid the rising consumer price index, the continuing rising inflation rate may lead to further inflation. Thus, the best hedging against inflation, the price of gold is likely to rise again.
In the long run the price may increase
While the dollar continues to be strong against gold, it is also expected to lead to further inflation. Thus there is a huge expectation that the price of gold may increase in the long run.
The position of the central bank
While this rising inflation rate may favor gold, investments in gold have increased. Due to this, the price of gold saw a sharp rise in the last session. As inflation rises in the medium term, interest rates have not changed at present. But inflation is higher than the central bank's forecasts. So the central bank's position may soon change. Then the price of gold is expected to fall.
Gold prices may fall
And as the dollar continues to appreciate, this is also expected to cause gold prices to fall. So comes the expectation among experts that there may soon be a massive decline in gold. As gold prices continue to peak, profit bookings can be made. Thus the price of gold is expected to fall.