Gold price rises to Rs. 55000 will happen: Silver is still undervalued but likely to bounce back fast

- Bullion Bits: Dinesh Parekh

- Gold prices in the world market will rise to 22 2200 this year: the current price is around 1950 dollars!

While the United States and European countries are worried about Russia's threat of a nuclear attack in the world market, Ukraine has not surrendered on the battlefield and Russia has started attacking and destroying Ukrainian cities. US Fed Chairman Jeram Powell has hinted that the April-May rate hike will raise interest rates by 1 / 2- 1/2 per cent to curb rising inflation. Felt to spot. And at the end of the week, the price was 15.

This is a time of war, in which inflation has set in and gold is booming. The US is doing a financial section on the one hand and increasing its debt by printing notes to keep the financial flow to the treasury which will work to give more pain to the Americans. Borrowing new money confuses American tax payers. In addition, 90% of Americans are unable to save at all and are being pressured under the burden of inflation and lifting the stock market to make it a 15-year list. Powell, chairman of the Fed, recently spoke in support of the US Alliance, but said that maintaining some independence was important.

Silver prices in the world market are rising behind gold. During the week, the price of silver rose by 115/120 cents per ounce, while the supply of silver in the vaults of Comex of New York increased and the stock of vaults decreased. In the long run, JPMorgan and other banks will try to keep their silver stocks intact.

Long-term debt contracts are on the rise in New York's Comex market and traders will be looking for spot-on silver deliveries, leading to a shortage of silver. There was a silver transaction in which silver was transferred from one stock to another by trading only silver in the merchant vault but at the present stage traders are demanding delivery of the present goods and the silver bars in the vault are declining. The rise of spot silver will once again mark a new boom in rising silver. Silver prices are undervalued. In addition, rising industrial consumption will have an impact on the price of silver and silver will rise and on Thursday afternoon, the price of silver was quoted at 51 cents an ounce. The rise of gold, prolongation of war, threat of atomic bomb, rising oil prices, global financial crisis, etc. will raise the price of silver and prove that silver is an undervalued precious metal in the world. The local gold market will be buzzing, weddings will be better, Kovid's fears will be lessened. Business will be as usual. Last year's record gold imports of 108 tonnes will probably increase this year.

Shopkeepers and showroom owners have started buying gold slowly. Importers order gold at all prices, book goods at fixed rupee-dollar exchange rates. India's exports of ૪ 500 billion in 2021 will strengthen India's economy, and it will make a successful attempt to control inflation by absorbing rising oil prices, which will increase the importance of gold demand and increase gold. Prices are quoted at Rs 5,100 per ten grams on Thursdays.

Old gold revenues have improved. Overall gold will determine its price on global fluctuations. It is to be noted that the spot gold price has been fluctuating since Thursday morning and the spot gold has started to be quoted at Rs 200 per ten grams higher than the futures price. Five to six months ago, the price of gold in the domestic market was quoted at Rs 1,200 to Rs 1,200 per ten grams higher than the futures, and today the market seems to be in the same mood again.

In a single day, global silver prices rose by ૨ 1.50 in the domestic silver market, sending traders into a frenzy over selling silver at a lower price in the morning. Silver was quoted at a high of Rs 1,200 per kg in a single day and was quoted at Rs 3,100 per kg in the closed market on Thursday but no deals were made.

The market is booming, with signs that Russian President Vladimir Putin could launch a nuclear attack on Ukraine, one of the reasons for the sudden rise in prices. When spot silver is quoted higher than futures, silver is sold at a discount of Rs.500 per kg more than futures in bills.

Older silver revenues are slower and old silver revenues in the market are reported to be almost depleted. Annoyed by the fluctuations in showroom prices. They say if prices remain stable, households will be better off. Overall, silver will determine its price on the global market.