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Amid Russia-Ukraine crisis, the buying strategy on the decline in gold from the long and medium term perspective will prove to be the best strategy for an investor
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Gold fell by Rs 181 to Rs 51,148 per 10 grams in futures trade on Friday as traders offloaded their positions amid a weak global trend on the last day of the week.
On the Multi Commodity Exchange, gold for April supply contract fell by Rs 181 or 0.35 per cent to Rs 51,404 per 10 grams. According to market experts, in view of the weak trend in the international markets, the fall in gold futures prices has been registered due to the cutting of their positions by the investors.
Sugandha Sachdev, Vice President of Religare Broking said that due to Russia's promise to lighten military operations around Kyiv, there is a slowdown in gold prices. However, no concrete thing has come yet to the fore regarding the ongoing peace talks between Russia and Ukraine. Because of this, gold is getting support around the psychological support level of USD 1900 per ounce.
Those investing in gold need to adopt a buying strategy from a medium to long term perspective. There is a weekly decline, but after September 2020, the biggest quarterly increase in gold has been registered so far.
The crisis between Russia and Ukraine is not over yet. Meanwhile, rising inflation is working to increase the investment appeal of gold as a hedging instrument. In such a situation, the buying strategy on the decline in gold from the long and medium term perspective will prove to be the best strategy for an investor.