Unfavorable volatility in gold: Global rally likely to continue amid Chinese buying

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Boolean Bits - Dinesh Parekh

Gold smuggling from Bangladesh to Kolkata points to increase: Silver prices expected to rise continuously till 2025

Against the black market, even after the announcement that the Fed has increased the interest rate by 25 points, bullish trend is seen in gold. By controlling inflation, the Fed will try to stabilize market inflation by raising interest rates consistently every month through 2023. At the end of the week, the price of gold was 1867 dollars and the price of silver was 22.15 dollars.

George Roverley, manager of Ninety Global Gold Fund in the world market, says that investors have noticed that along with the fluctuation of gold in the last 50 years, instead of selling gold by banks, they have been buying gold continuously for the last 13 years, and importantly, China has increased its reserves to 2,000 tons after 2010. In an effort to create an alternative against the dollar, the rise in gold will accelerate.

Gold and gold stocks have shown an increase of 27 to 61 percent in the last gold 7/7 bearish phase. But between 1981 and 1990, there was a decline in gold property.

If we look at the long and short term context, the increase in interest rate in the Fed's monetary policy controls inflation and invests in gold properties, leading to a rise in the price of gold.

Gold has only benefited investors in the long run. Eastern countries of the world have challenged the dollar's dominance by trading gold in exchange for oil and are looking for alternatives to the dollar. In it, the Ghanaian government has launched a gold-for-oil program.

The Ghanaian government has tried to reduce the pressure on its foreign exchange by paying gold production from gold mines against oil, and by exporting gold in exchange for oil, the Ghanaian government tries to stabilize its currency.

Venezuela's gold reserves fell by 13 percent to 69 tons in 2021.

Withdrawal of 10 tonnes of gold from vaults reduced the gold reserves and its effect is visible on the price of gold.

Russia has sold 63 tons of gold. Russia and other eastern countries started their business in a new way by exchanging oil for gold. As a result, the gold price will cross 1900 dollars per ounce and move towards 2000 dollars per ounce due to increase in gold demand.

The price of silver in the world market fluctuates by 30-30 cents per ounce.

In the forecast of silver prices, experts say that in 2023, the average price of silver will increase by 6 percent from 23 dollars per ounce, while other experts say that silver will show a price of 44 dollars to 50 dollars per ounce by the year 2023 to 2025, and this boom in the use of solar energy in silver. And because of the continuous high demand in the electronics sector, such high prices will be shown. In it, market traders say that silver showed liquidity in the price of silver in the period from March to August of 2020 and showed the prices from 11 dollars to 30 dollars per ounce and then the corona virus spread terror in the world and destabilized the prices of silver.

There will be no shortage of silver despite the increasing withdrawal of silver per gold from the New York and London vaults. Because Morgan controls the transactions of such present stocks.

Morgan's silver stocks seem to be keeping prices in check at this stage. However, analysts say that silver will continue to rise in the long term.

Although domestic gold prices are subject to global fluctuations and the rupee-dollar exchange rate, the market has come to an end and the demand for gold remains modest as showroom demand eases.

When the futures price of gold is Rs.51350 per ten grams, the bill without gold present is quoted at Rs.57900 per ten grams and the gold in the bill is quoted at Rs.57300 plus 3% GST at Rs.59060 per ten grams. There is a difference of Rs.550/Rs.600 per ten grams between spot gold and futures prices.

The sale of gold in bills has decreased. A lot of smuggled gold is coming from eastern parts of India and from Nepal and Meghalaya. Since the border of Bangladesh is close to Kolkata, a lot of gold comes to Kolkata avoiding the CRPF personnel. Importers order limited gold. Old gold income is gradually improving. Overall, imported gold will run low this year as gold prices remain high.

It should be noted that studies show that people's investment in gold bars and coins is increasing in India. Then the small traders and middle class people have started to find low weight coins in the market to invest. Currently keeping in mind the demand of the investors, the record has been broken by minting a coin using the oldest gold leaf of 100 mg. Such very light weight coins will be available in the market and ordinary people will invest their savings in gold and develop a new investment sector.


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