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Gold Price May Increase to Rs 40,000 per 10 Gram by Diwali

Highest gold rates to be seen this Diwali

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gold price
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.

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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 price increase
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)

Next Story

Researchers Create Incredibly Lightweight 18-Carat Gold Using Plastic Matrix

The researchers can even adjust the hardness of the material by changing the composition of the gold

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Gold
According to the study, gold has the material properties of a plastic. If a piece of it falls onto a hard surface, it sounds like plastic. It, however, glimmers like metallic gold, and can be polished and worked into the desired form. Pixabay

A good news for jewellry lovers. The objects of their desire may someday become much lighter, but without losing any of their glitter – especially with gold watches, as researchers have created an incredibly lightweight 18-carat gold, using a matrix of plastic in place of metallic alloy elements.

According to the study, the research team from the Swiss university ETH Zurich have developed a new form of gold that weighs about five to ten times less than traditional 18-carat gold.

The conventional mixture is usually three-quarters gold and one-quarter copper, with a density of about 15 g/cm3, the study said. Study researchers Leonie van’t Hag, Raffaele Mezzenga and team used protein fibres and a polymer latex to form a matrix in which they embedded thin discs of gold nanocrystals.

In addition, the lightweight gold contains countless tiny air pockets invisible to the eye, said the study, published in the Advanced Functional Material. According to the researchers, gold platelets and plastic melt into a material that can be easily processed mechanically.

For the finding, the research team first added the ingredients to water and created a dispersion. After adding salt to turn the dispersion into a gel, they next replaced the water in it with alcohol.

Thereafter, they placed the alcohol gel into a pressure chamber, where high pressures and a supercritical CO2 atmosphere enables miscibility of the alcohol and the CO2 gas; when the pressure is released, everything turns it into a homogeneous gossamer-like aerogel.

Heat can be further applied afterwards to anneal the plastic polymers, thus transforming the material and compacting into the final desired shape, yet preserving the 18-carat composition, the researchers said.

According to the study, this gold has the material properties of a plastic. If a piece of it falls onto a hard surface, it sounds like plastic. It, however, glimmers like metallic gold, and can be polished and worked into the desired form.

Gold
A good news for jewellery lovers. The objects of their desire may someday become much lighter, but without losing any of their glitter – especially with gold watches, as researchers have created an incredibly lightweight 18-carat gold, using a matrix of plastic in place of metallic alloy elements. Pixabay

The researchers can even adjust the hardness of the material by changing the composition of the gold. They can also replace the latex in the matrix with other plastics, such as polypropylene. Since polypropylene liquifies at some specific temperature, ‘plastic gold’ made with it can mimic the gold melting process, yet at much lower temperatures.

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The researchers noted that, while plastic gold will be in particular demand in the manufacture of watches and jewellery, it is also suitable for chemical catalysis, electronics applications or radiation shielding. (IANS)