Business: There is good news for investors looking for opportunities to earn good money. It is being said that in the coming days, the price of yellow metal i.e. gold may rise tremendously. This can become a great opportunity for investors to earn money.

These reasons can increase the shine of gold

According to a Reuters report, Goldman Sachs estimates that gold prices are going to rise in the near future. The global banking firm believes that gold is becoming popular as a risk-hedging instrument. It feels that global investors who had kept away from gold due to the tremendous rally in its prices in the last two years may again enter the gold market. Especially after the interest rate cut by the US Central Bank Federal Reserve, Western Capital may again turn to the gold market.

Expected to reach $2,700

Goldman Sachs has predicted that gold may reach $2,700 by the beginning of next year. Today, gold has jumped by about 1 percent in the global market and is trading at $2,507 per ounce. This means that if Goldman Sachs' prediction proves correct, then the price of gold may rise by 7 to 8 percent in the next 5-6 months.

The price can go up to 78 thousand

If we look at the domestic market, gold is trading around Rs 72,000 per 10 grams on MCX on Friday. This price is for the futures contract for delivery in October. If the prices in the domestic market increase as per the foreign market, then here too gold can increase by 7-8 percent in the next 5-6 months. This means that by the beginning of next year, gold can reach up to Rs 78,000 in the domestic market.

Gold became 21% more expensive this year

There has been a historic rise in the price of gold this year. Gold has strengthened by 21 percent in the foreign market this year. Last month, the price of gold reached a new record high. Gold reached a price of $ 2,531.60 per ounce in the foreign market on August 20.

Domestic market grew by 16%

Gold has strengthened a lot in the domestic market this year as well. At the beginning of this year, gold was trading near Rs 62,000 per 10 grams on MCX. Currently, the price is near Rs 72,000. That is, so far this year, the price of gold in the domestic market has increased by more than 16 percent. The reduction in import duty in the full budget presented in July had put some check on the gold rally in the domestic market.