Gold Price Tops Rs. 49100 Levels; May Increase Further As International Prices May Hit $1900/oz Level

Gold prices in line with the international markets have seen a massive jump in the retail market. With Mumbai prices gaining over Rs. 1000 per 10 gm On the MCX, gold prices on Friday (February 11, 2022), settled at a price of Rs. 49102 per 10 gm.

Gold Price Tops Rs. 49100 Levels; May Increase Further As International Prices May Hit $1900/oz Level

The massive or sharp gains on the bullion have been led by the fresh geopolitical risk and there has been a blow to higher risk appetite and hence an aversion to risk. Also, the persistent inflationary constraints are also impacting the bullion run as it is considered a hedge against inflation.

Gold prices internationally zoomed past $1850 per oz levels

Gold prices internationally are spurred on rising geopolitical concerns as well as inflation risk with investors drifted to buying in the safe haven.

Gold price : Where gold prices are headed in future course?

As per the Kitco data, gold has seen a jump of 1.88% in 1-year and in 1-month has gained by 1.84%. And as per analyst at brokerage OANDA, "Gold is starting to get its groove back some investors are seeking protection against an overly aggressive Fed tightening cycle that could threaten growth"."Gold could rally above the $1,900 level if (Russian) troop movements occur", he added.

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