After experiencing a sudden hike, the prices of gold again faces the fall for the fifth day to Rs 39,223 for each 10 gram. Financial experts are suggesting to not get panic from the frequent price instability. According to the traders, it's better to hold cash and not go for gold as of now in such high volatile situation.
Surendra Mehta, National Secretary of IBJA, told a media house that the offer of bullion has been lukewarm as the investors are unwilling to move out of their homes due to current ongoing situations. Vendors who were offering premium up to $25-35 have faded and now give a premium of $3-5.
Gold futures for the delivery in April slipped Rs 1,530, or 3.79 percent on the MCX exchanging at Rs 38,818 for every 10 gram in night exchange a business turnover of 7,618 points. Gold deals for June delivery aided Rs 1,680, or 4.12 percent, at Rs 39,110 for each 10 gram in a business turnover of 13,021 lots.
Several gold trading experts are saying to wait for the market to get stable and then focus on trading in the gold and other commodities. The current situation is quite volatile to invest money.