Why Gold Rate Is Increasing In Uae

This sharp rise marks an increase of nearly 25 percent.

Why gold rate is increasing in uae. Gold price in india on tuesday february 9. Gold prices are retracing from highs today after touching their highest level in more than seven years. Bank of america securities bofa sec believes that gold prices in the international market may rise to 3000 per ounce oz by end 2021.

Our 2021 forecast is strongly bullish with a big spike. Exchange rate 47127 rupees maximum 47834 rs minimum 46420 rs. So this an early stage bull market in precious metals and our gold price forecast reflects a strong start in 2021.

Experts said that gold prices are likely to be in range of 3 000 to 5 000 per ounce by 2030 due to uncertainties over the global economy inflation and a tight supply due to lower production as. So our gold price forecast represents more of a spike rather than an average gold price. Gold price forecast on wednesday february 10.

The gold prices in india rose to a new high on august 10 with 10 grams of 24 carat gold costing rs 38 465 00 in new delhi. Exchange rate 47154 rupees maximum 47861 rs minimum 46447 rs. The brokerage upped its target price on gold from 2 000 to 3 000.

We predict gold s price could rise to the 2 200 2 400 area in 2021. Gold which has already rallied 75 in the last one and a half year may jump another 76 in the next 18 months say analysts. After over nine years gold prices hit rs 50 000 per 10 grams on wednesday in india the world s second largest gold consumer after china as a host of factors like global uncertainties triggered by covid pandemic weak dollar low interest rates and stimulus programmes have increased the appetite for gold.

If you consider the last 20 years you notice that the rate of gold has increased tremendously so i hope it will increase in the future too. Exchange rate 47781 rupees maximum 48498 rs minimum 47064 rs. Why is gold so popular among uae residents.