Heavy fall in gold and silver: Gold below $4000 for the first time, silver also at record low.

The biggest and shocking news of this time is coming out from the commodity market. Global markets have witnessed a steep fall in the prices of precious metals, which has shocked both investors and common buyers. This is the first time this year that the price of gold has slipped below the psychological level of $4,000 in the international market. Not only gold, but the shine of silver has also completely faded and it has also reached its lowest level of this year (Yearly Low).

Record level of gold broken in global markets

After the ongoing turmoil in the international bullion market for some time, gold prices have suffered a major setback. Due to continued selling pressure, gold closed below the $ 4,000 per ounce mark for the first time this year. Market experts believe that changes in global economic policies, strengthening dollar and decisions taken by central banks regarding interest rates have put some pressure on the image of gold as a safe investment, due to which there has been a sharp fall in prices.

The shine of silver also faded, at the lowest level of the year

Along with gold, silver used in industrial and jewelery sectors has also suffered a big blow. Silver prices have also fallen to their lowest level this year. Decrease in industrial demand and fear of global recession have pushed down silver prices. According to experts, unless industrial activities pick up in the global market, the recovery in silver prices may be a little slow.

What will be the impact on Indian market (MCX) and local bullion?

The direct and major impact of this historic decline in the global market is going to be seen not only on the Indian Futures Market (MCX) but also on your nearby and local Bullion Markets. This fall, which came just before the wedding season and festivals in India, has brought joy to the faces of common consumers and jewelery manufacturers. Local dealers say that if this recession in the international market continues for a few more days, then gold and silver jewelery can become quite cheap at the domestic level, due to which the crowd of customers at the retail counters is expected to increase.

Is now the right time to buy gold and silver?

Market veterans and commodity analysts believe that gold falling below $4,000 could prove to be a great buying opportunity for long-term investors. Gold has always been considered a safe asset amid geopolitical tensions and economic uncertainties. Experts advise that instead of panicking, taking advantage of this big fall, investors should adopt the strategy of ‘buy on dips’ i.e. making purchases gradually on every fall.