According to the increase in the price of gold in the last 1 year, there is every possibility of gold price crossing 1 lakh in the coming time. Amidst the turmoil in the stock market day by day, people are increasingly wanting to see gold as an investment opportunity. According to experts, 90500 is considered to be a strong support level for gold, while 95500 is considered to be a strong resistance.
How profitable is buying gold in this situation ?
Since the situation is confusing, it is difficult to say whether gold should be bought now or not, but one can keep a constant eye on the strong support level. If the level breaks, a plan to invest can be made after consulting your financial advisor.
Will the price of gold fall further ?
As the demand increases, the price of gold increases, but if the support level breaks, there may be a chance of the gold price falling further, which can be a golden opportunity. Currently, a little recovery has been recorded in the stock market, so various investors can book their profits.
