As predicted earlier the gold has surged to Rs 42000 per tola that is ten grams. With the festival and the marriage season coming in , the rate will further go up it looks like.
There was the prediction that it would rise by 42000 in December itself. But it has raised by January first week. Geopolitical uncertainties and a weak rupee against the dollar is said to the reasons behind this rise in the rate of gold.
The rate was hovering around Rs 38000 in the year 2019. It looks like it would continue to remain bullish in the coming 10 months. However, the demand for the yellow metal will not come down, as long as the ladies love it in the form of ornaments.
The marriage seasons will see that the rate rises by Rs 100 or Rs 200. By the year-end, it might reach up to Rs 45000 also. It all depends on demand and supply.
The escalation of tension between Iran and America would have a direct effect on the rates of the fuel and also the gold.
