Gold: Jewelers have welcomed this fall in gold prices. They believe that buyers who have been waiting for a long time can now return to the market.

Gold Price: Amid the reduction in geopolitical tensions, gold prices have been falling continuously for the last ten days in August. Earlier this month, the price of gold reached a record high. But since then, due to the fall in prices, investors, traders, and jewelers are keeping a close watch on it.

On August 8, there was a huge increase in the price of gold, and it reached an all-time high. Due to the fall since then, on August 18, 22-carat gold was available at the rate of about Rs 9,280 per 10 grams, i.e., about Rs 74,240 per sovereign.

Continuous fall in gold prices

Jewelers have welcomed this fall in gold prices. They believe that buyers who have been waiting for a long time can now return to the market.

Market experts say that the reason for the current decline is the softening of global economic signals and geopolitical tensions. Pranab Mehar, Vice President of Commodity and Current Research, JM Financial Services, says that a mixed trend can be seen in gold prices next week as well, as all eyes will be on the upcoming US economic data and the US Federal Reserve meeting to be held next month.

What will be the future trend?

International movements will also play an important role in deciding the future trend. According to Manav Modi of Motilal Oswal Financial Services, the main reason for the decrease in demand for gold as a safe investment is the recent easing of the tense situation. Diplomatic efforts regarding the Russia-Ukraine war have raised hopes of a ceasefire, and there has also been partial relief in trade tensions between America and China.