Why is the Gold Price Going Down for the Last Few Months?


Why is the gold price going down for the last few months? Almost Rs.10000 down 8gram of 22Ct gold from last 7 months.

Gold stocks are the stocks of companies that are engaged in mining of gold, or in the business of trading gold. These stocks are one of the best proxies to play the yellow metal theme.Gold investors can also purchase stocks of these companies instead of directly buying it as a physical or digital gold.The year 2020 saw the unprecedented movement in the price of gold. The precious yellow metal became the safe haven for investment during troubled times of the lockdown. People shifted their money from equity market to gold commodity and ETFs. As a result, gold soared to an all-time high price of US$2060 in August 2020.The current price movement of silver attracts investors, and people are excited that silver may cross its all-time high price this time. The white metal reached up to US$30 per ounces for a short interval and then retreated.