Gold Forecast 2022: Did not shine last year, but hope to shine again this year, know where gold can reach

Again 55 Hazari can be gold.

Gold Forecast 2022: The new year has started from today. The year 2021 has not been anything special for precious metals like gold and silver. On an annual basis, gold gave a negative return of 3 per cent. This is the first time after 2015 that there has been a negative return on gold. In such a situation, let’s try to know how this year will be for gold and silver.

Commodity market experts say that factors like Omicron variants, interest rate hike by the Federal Reserve, strengthening of the dollar, crude oil price will have an impact on the price of the yellow metal. In the midst of increasing threat of corona, there is a high probability that it will regain its lost luster in this year. Gold, which is considered a safe investment amidst concerns related to the epidemic and inflation, may once again reach the level of Rs 55,000 per 10 grams.

Gold had reached beyond 56 thousand

In the year 2020, during the first wave of the Kovid-19 epidemic, gold had gained a lot of momentum and it had reached the price of Rs 56,200 per 10 grams. But the year 2021 did not prove to be such a good year for it. In the midst of the continued rally in the stock markets, the attractiveness of investors about gold decreased.

Gold is about 14% cheaper than all-time high

For this reason, gold is currently trading at around Rs 48,000 per 10 grams. This price is about 14 percent lower than the all-time high of gold and is also down four percent compared to January 2021. Despite this fall, the current level of gold is also three percent higher than the total international prices, due to which the depreciating rupee against the US dollar is responsible.

Gold did not shine as expected last year

Comtrendz co-founder and chief executive officer (CEO) Gyanasekhar Thiagarajan attributed the rise in equity markets to gold’s performance not being up to expectations. He said, “Along with this, restrictions imposed due to the possibility of increasing Kovid infection around the Christmas and New Year holidays are visible in many countries of Europe. America has also appealed to its citizens to take great precautions regarding travel. Thiagarajan said reducing policy rates could make the US dollar more attractive than the euro and the yen.

Gold rate expected to rise in the medium term

This week, gold closed at the level of $ 1830.40 in the international market. Similarly, on MCX, gold for delivery in February closed at Rs 48083 and gold for delivery in April closed at Rs 48143. Thiagarajan believes that gold prices are expected to rise in the medium term. Apart from the concerns related to inflation, the uncertainties arising out of the new form of corona virus, Omicron, can also give impetus to this boom. He said, “It will get good support due to the declining trend in the stock markets and the view that gold is favorable as a tool to combat inflation. If there is any geo-political tension, it will get stronger.”

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