Gold may hit Rs 1,42,000 per 10 grams, says Religare

ByEnigma 808

Religare Broking suggests that the ideal buying range for gold is between Rs 1,14,000 and Rs 1,18,000 per 10 grams. This range offers a good opportunity to buy as part of the ongoing uptrend.

Gold prices in India have risen nearly 67% since January, reaching a record high of Rs 1,31,920 per 10 grams. Since August, the price has jumped from Rs 98,500 to over Rs 1.26 lakh.

Religare points out that gold’s rise is driven by factors like geopolitical tensions, a weaker dollar, and strong central bank buying. However, they warn that gold may face a correction if prices move too high.

Religare expects gold to reach Rs 1,35,000 to Rs 1,42,000 per 10 grams if the price rebounds.

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    Besides writing and being a content creator, Enigma 808 sometimes likes to watch paint dry on walls, listening to ASMR while timing snails racing. Such is life.