Never miss a story

Get subscribed to our newsletter


×
By Diwali, a huge surge can be seen in Gold rates. Pixabay

Amid global growth concerns and heightened trade tensions between the US and China, gold prices might cross the Rs 40,000 mark by Diwali, analysts have said.

Typically, the demand for gold reflects the expectations about the future, the prices of the precious metal tends to rise amid uncertain economic situations or political upheaval.


Currently, the October contract of gold was priced at Rs 37,995 per 10 gram on the Multi-Commodity Exchange (MCX).

“Demand for the precious metal may slow down slightly owing to some easing in trade tension between US and China, but over the trend is negative. We see gold prices around Rs 39,000 to 40,000 per 10 gram by Diwali, ” said Anuj Gupta of Angel Brooking.

Gupta explained that the gold prices were surging primarily owing to the decline in global growth rate.


Gold price will get to a record high level by the end of this year. Pixabay

Experts globally are also suggesting investments in gold and other precious metals amid these uncertain times as an insurance against economic uncertainty.

“We now recommend all investors have a full allocation to precious metal investments in their portfolio,” said a Gohring and Rozencwajg report.

“We believe the bear market in gold has run its course and a new bull market has begun.”

Lower interest rate by central banks and the ongoing trade dispute between the two biggest economies, the US and China, were supporting the gain in gold prices.

Besides, latest worry came over the recession warning via bond market. The inversion in the US bond yield hit levels last seen in 2007, just ahead of the global financial crises.


Gold prices were surging primarily owing to the decline in global growth rate. Pixabay

This came even as the US decided to defer the rise in trade tariffs it announced earlier as major export market showed renewed signs of weakness.

Also Read: Gold Prices Surged 20 Per Cent Since January 1

Europe’s biggest economy, Germany, reported negative growth, hence nearing the risk of a recession. The UK had already reported a contraction in growth amid Brexit woes and China added fuel to fire after it released weaker than expected factory data.

Investment firm Morgan Stanley had said that if the trade war further soared via the US further raising tariffs on all goods imported from China to 25 per cent, “we would see the global economy entering recession in three quarters”. (IANS)


Popular

Photo by Tim Mossholder on Unsplash

Between zoom meetings, webinars, you're walking a tight rope to balance work from home and domestic chores, in all this its easy to forget about taking care of yourself.

By IANSlife

Between zoom meetings, webinars, you're walking a tight rope to balance work from home and domestic chores, in all this its easy to forget about taking care of yourself. It's imperative to squeeze in a few hours to indulge in yourself, whether its a massage or a hair spa treatment.

It comes with a range of accessories which includes the 40mm Airwrap long barrels, 30mm Airwra barrels, a Firm smoothing brush, a Soft smoothing brush, a Round volumising brush, the Pre-styling dryer, a non-slip heat-resistant mat to place your styler on, a Storage case and even a Filter cleaning brush. A Storage bag (Iron/Fuchsia) securely stores your Dyson Airwrap when you're on the move.

Keep Reading Show less
IANS

"The discovery of each new world provides a unique glimpse into the physics that play a role in planet formation," said lead author Jon Zink, a UCLA postdoctoral scholar.

An international team of astronomers has identified 366 new exoplanets, using data from the NASA Kepler Space Telescope's K2 mission. The findings, described in a paper published in the Astronomical Journal, showed a planetary system that comprises a star and at least two gas giant planets, each roughly the size of Saturn and located unusually close to one another.

The discovery is significant because it's rare to find gas giants -- like Saturn in the solar system -- as close to their host star as they were in this case. The researchers cannot yet explain why it occurred there, but it makes the finding especially useful because it could help scientists form a more accurate understanding of the parameters for how planets and planetary systems develop.

NASA - Alone in Space - Astronomers Find New Kind of Planet An international team of astronomers has identified 366 new exoplanets, using data from the NASA Kepler Space Telescope's K2 mission. | NASA

Keep Reading Show less
Pxhere

New moms can follow the given tips to take care of their little ones and protect them from the harmful effects of harsh winds blowing outside.

By Dr Anil Batra

The winter comes with its own set of hassles. New moms have to be careful because they have to take care of themselves and their babies. It becomes imperative to protect babies from the harsh season. The immune system of newborn babies is developing, which makes them susceptible to respiratory infections. But, you can take preventive measures to keep your child warm and safe. Newborn babies need extra care until their immune system becomes stronger to protect their bodies from the harmful effects of viruses and bacteria that usually become more active in the winter season. A drop in the temperature can aggravate different processes in the body, therefore, moms need to take extra care of newborn babies during winters.

New moms can follow the given tips to take care of their little ones and protect them from the harmful effects of harsh winds blowing outside.

Keep reading... Show less