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Gold is an investment that has been a center of attraction for people for centuries. At present, gold prices are constantly changing. In such a situation, many investors are thinking whether it is right or selling gold at this time. Let us try to understand what is right to do with gold at this time on the basis of many issues in this news.
What is the price of gold on 3 February
On 3 February 2025, the price of 24 carat gold in India is Rs 82,094 per 10 grams, while the price of silver is Rs 92,475 per kg. Recently, in the budget 2025, the government has announced a reduction in import duty, which has given relief in gold and silver prices. However, Finance Minister Nirmala Sitharaman has also indicated to increase import duty, which may increase gold prices in future.
How much profit deal to buy gold
Gold is considered a safe investment that maintains its value in the time of inflation. When the prices of other properties fall, gold prices often increase. At the same time, gold prices depend on global markets. If there is uncertainty or economic crisis globally, the demand for gold increases and its value increases. If you are thinking of investing for a long period, gold can be a good option. Historically, gold has given good returns in a long time.
Due to selling gold
If you are thinking of making profit in short term, then market fluctuations can give you an opportunity to sell. If you have already purchased gold at a higher price and now the price has increased, then it can be the right time to sell. Apart from this, your financial condition is getting weaker or you need money immediately, then selling old gold can be an option. If your portfolio is invested in gold, then it can also be a sensible step to sell it and invest in other properties.
These reasons will also affect gold
The US Federal Open Market Committee (FOMC) has kept the Federal Fund rate stable at 4.25-4.50 per cent in its policy meeting as per the market expectations. The Federal Reserve indicated that it is not in a hurry to cut interest rates. In addition, the European Central Bank (ECB) and the Central Bank of South Africa have cut 25 basis points (BPS) in their interest rates.
ECB reduced its deposit rate to 2.75 percent. At the same time, America’s Q4 GDP growth rate was 2.3 per cent, which was less than 2.6 per cent and was sluggish than 3.1 per cent in the previous quarter. However, Personal Consumption was recorded at 4.2 per cent, which was better than an estimate of 3.2 per cent. In addition, the US dollar remained at 107.92, with a decline of 0.07 per cent.
Also read: Petrol, diesel, medicines and electronic goods are all expensive! India’s rupee fell
