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- Gold Down 20%, Silver 43%; Sensex 11%, Nifty 8.6% Fall Amid Iran War & Strong Dollar
New Delhi3 minutes ago
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The first six months of the year were full of ups and downs for investors. During this period, gold became cheaper by about 20% and silver by 43% from the record level of January 29.
At the same time, a decline of 11% was recorded in Sensex and 8.6% in Nifty. Gold and silver were put under pressure due to strong dollar and US Federal Reserve’s indication of not reducing interest rates. On the other hand, the stock market remained under pressure due to the US-Iran war.
2 reasons for the fall in gold and Sensex…
- After the tough stance of the new US Federal Reserve Chairman Kevin Wersh, investors’ hopes of quick relief in interest rates diminished. This affected the demand for gold.
- Stock market sentiment weakened due to global growth and rising inflation due to tensions over the Iran war.
12% rise in gold is possible in next 6 months, small cap and mid cap will be beneficial
Ajay Kedia, director of Kedia Advisory, says that in the short term, due to ETF withdrawals and fluctuations, gold may fall further by 2% to 5%. However, it is expected to rise by 12% to 15% by the end of the year.
Equinomics Research Pvt. Ltd. Founder of G. Chokkalingam says that smallcap and midcap stocks may outperform largecap stocks like Sensex and Nifty in the next six months.
According to Sudeep Shah of SBI Securities, Nifty is currently in consolidation. 23,730–23,700 levels will be important support.
It will take time for foreign investors to return
- Attractive valuations and scope for recovery: There are still many stocks in the smallcap segment that are well below their highs of September 2024 and are available at better valuations. Additionally, this segment offers unique business models, acquisition opportunities and excellent value.
- FIIs’ comeback will take time: It may take 1 to 2 quarters for foreign institutional investors to fully return to the market. They will wait for the rupee exchange rate to stabilize.
Keep these 2 things in mind while buying gold from jewelers
- Buy only certified gold: Always buy certified gold bearing the hallmark of Bureau of Indian Standards (BIS). This number can be alphanumeric i.e. something like this – AZ4524. Hallmarking shows how many carats the gold is.
- Price Cross Check: Cross-check the correct weight of gold and its price on the day of purchase from multiple sources (such as the website of India Bullion and Jewelers Association). The price of gold varies according to 24 carat, 22 carat and 18 carat.
4 ways to identify real silver
Magnet Test: Real silver does not stick to magnets. If it sticks then it is fake.
Ice Test: Place ice on silver. Ice melts faster on real silver.
Smell Test: Real silver has no smell. Fakes smell like copper.
Cloth Test: Rub the silver with a white cloth. If a black mark appears then it is real.
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There was a decline in gold and silver this week: the price of silver decreased by ₹ 15432 to ₹ 2.17 lakh kg, gold became cheaper by ₹ 5097
There was a decline in the prices of gold and silver this week. According to India Bullion and Jewelers Association (IBJA), the price of 10 grams of 24 carat gold has fallen by Rs 5,097 to Rs 1.40 lakh. Earlier, it was at Rs 1.45 lakh last week i.e. on June 20. At the same time, silver has fallen from Rs 2.32 lakh per kg to Rs 2.17 lakh. That means its price decreased by Rs 15,432. Read the full news…
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