Last year, the gold price fell to Rs 56,200 per ten grams amid a stagnant economy due to the corona epidemic. At the same time, prices have not soared this year, but now investors are worried about Omicron.
Investors are withdrawing money from equities and investing in other safe havens. This is because if countries impose sanctions, the profits of companies will be affected, so investors do not want to take this risk. Gold had closed at Rs 47,960 per ten grams on the Multi Commodity Exchange last trading day, while on Monday it crossed the Rs 48,000 level and touched Rs 48,348 per 10 grams.
Silver also rose to Rs 63,747 per kg from Rs 62,965 per kg in the previous session. The recent rise in the price of precious metals is due to Omicron. This new form of corona has been found in the Netherlands, Denmark, Australia and many other countries, due to which many countries have started increasing the travel restrictions. Meanwhile, investors are investing in gold and if the situation is not brought under control soon, the price of gold could cross Rs 50,000 per ten grams. At the same time, gold purchases in India are likely to increase due to the wedding season amid lower prices than last year, which will further boost prices.
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