Can You Make Profit by Investing in Gold Now? Here’s the Real Situation
Gold prices have declined slightly in the international market today, creating uncertainty among investors. A troy ounce of gold is currently trading at $4,993.44, down 0.13% from yesterday’s closing price. Similarly, silver prices have fallen 0.74% to $77.9235 per troy ounce.
In the domestic market, MCX gold futures for April have dropped 0.08% and are trading at Rs 1,54,700 per 10 grams of 24-carat gold as of 9:25 am. Meanwhile, silver futures for March remain unchanged at Rs 2,41,400 per kg.
Due to continuous fluctuations in gold prices, investors remain confused about the right time to invest. Experts advise that profits are more likely when gold prices stabilize after a decline and begin an upward trend, rather than investing during a falling phase. Gold prices are influenced by several factors, including the value of the rupee, global economic conditions, US interest rates, employment data, and geopolitical tensions.
Reports of possible tensions between the US and Iran have increased demand for safe-haven assets like gold. Although no official confirmation has been made, geopolitical uncertainty often supports gold prices. At the same time, recent US jobless claims data show a stable labor market, which has reduced expectations of an immediate interest rate cut by the Federal Reserve. According to the CME FedWatch tool, the probability of a rate cut in June is currently around 50%.
Meanwhile, the US dollar index has risen to 98, marking its fourth consecutive day of gains. This has weakened the Indian rupee, which is another key factor affecting gold and silver prices in India.
Overall, gold prices remain volatile due to global tensions, interest rate expectations, and currency movements. Investors are advised to monitor upcoming US employment and inflation data closely, as these reports may provide clearer direction for future gold price trends.
