Gold prices could fall to Rs 42,000 in early 2021, find out what the big reason is

New Delhi, Monday 30 November 2020

Gold prices may have fallen slightly in the last few months, but the Corona crisis reached record highs. However, there are now good signs of gold prices in India. The year 2020 is still one month away. That is, in 2021, there may be better news about the price of gold.

Recently, gold has become cheaper. It is now expected that at the beginning of next year, i.e. at the beginning of 2021, Rs. 42,000 could be reduced. Why would this happen? Many reasons are responsible for this. But the most important reason is that corona and vaccines are being made to prevent it.

During the Corona period, there was a lot of investment in gold. This is also because gold is considered a safe investment. However, this led to an increase in gold prices. And the price of gold reached its record level.

Now, many corona vaccines in the world are almost ready and the rupee is back in strength. The stock market is also gaining momentum as the market is opening at full capacity. In this sense, people are no longer showing such enthusiasm in investing in gold. Which is why gold prices are coming down.

Gold prices have fallen by Rs 4,000 in the last three weeks. Two days ago, gold closed at Rs 48,142 per 10 grams in the Delhi Bullion Market. Significantly, gold was trading at Rs. Reached 56,200. This was the highest level of gold.

As the Corona vaccine is being developed and is more likely to reach people, the price of gold will fall. Experts say that by February 2021, gold prices will touch Rs. Can reach 42,000. In the same way the price of silver will fall; Apart from gold, silver prices may also fall sharply.

Gold prices are likely to fall sharply in late January and early February next year. Corona vaccine is the main reason behind the decline in gold prices in India. The central government is in talks with the Serum Institute to procure about 400 million doses of the corona vaccine.