Gold price update: Gold prices have continued to fluctuate for the last few days. According to the India Bullion and Jewelers Association (IBJA), 10 grams of physical gold with 999 purity was priced at ₹ 96,416 on 9 May, which fell to ₹ 93,080 on May 12 to ₹ 93,080. However, on May 13, it again rose to ₹ 94,344.
The MCX also recorded a boom in June gold futures, which closed at ₹ 92,860 after a decline of 3.79% on 12 May. On 13 May, they rose by 1.26% and the price reached ₹ 94,070.
Gold shines due to America-China agreement
According to a report by Way2Walth, the price of gold in the international market fell nearly 3% on May 12 to a month -low. The main reason for this decline is the consensus on the tariff between the US and China on a major cut for 90 days. This development led to a risk-like property like investor stock market and reduced the demand for safe-han assets.
Will gold prices fall and decline?
Navneet Damani, the research head (commodities and currency) of Motilal Oswal Financial Services, said that there is further decline in gold prices in the near future. He said, “We believe that gold will be more cheaper in the international market. At the domestic level, prices can come up to ₹ 90,000-₹ 91,000 level, especially due to reduced tension on the India-Pakistan border.”
According to technical analysis of Way2Wealth, MCX Gold may persist in the near period. Currently, support is being seen at ₹ 92,200 and resistance at ₹ 97,000.
Long term outlook became stronger
On the other hand, many experts believe that despite the current decline, the perspective of gold is positive in the long term. India Bullion and Jewelers Association (IBJA) Vice President Aakrin Kamboj said, “Even though there has been a slight decline in inflation and better signs of the US economy, the shopping of central banks, geopolitical uncertainties and interest rates are supporting gold in the long term.”
He further said that domestic demand remains stable in view of the upcoming festivals and weddings season in India. In such a situation, prices in some quarters may remain strong to stronger.
What should investors do?
Experts believe that retail investors should see gold as long -term assets, not as a profitable means. Aksha Kamboj said, “The current decline may be a gradual shopping opportunity for long-term investors.”
Damani also advised investors to consider investment in case of a price of close to ₹ 90,000 and also include Silver in the portfolio, as it is likely to return better in the coming days.
Financial advisors are common opinions that 10–15% of the portfolio should be of gold. The decision of the investment should be based on your overall financial planning, not on price fluctuations.
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