Gold hit a near six-month low by losing Rs Rs 920 to Rs 28,140 (1st march) per 10 grams, due to brisk selling by stockists after the metal recorded a steep fall in international markets.
Selling pressure gathered momentum after the yellow metal in overseas markets suffered heavy losses, sparking a major sell-off in the local market here, pushing it down to a level seen on September 7 last year, traders said.
Similarly, silver paired all the gains it made in yesterday's trade by losing Rs 2,200 to Rs 58,300 per kg, as speculators offloaded their position for month-end settlements on the Multi Commodity Exchange.
The trading sentiment in gold dampened as in global markets it fell by USD 100 to trade below to hit the USD 1,700 an ounce level on signs that the Federal Reserve will refrain from offering more monetary stimulus to boost the US economy.
Some useful tips:
- Hold your existing asset, don't be in hurry to sell.
- Try investing more in the market (Gold market).
- The market will be unstable for some time facing fluctuations in the Gold prices.
- Don't let this changes affect your decision and try holding your asset.
What would you prefer holding existing gold (asset) or selling your gold (asset) or investing more in Gold ?
Gold seems to be the place to be.
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