For many current gold and silver investors, the drop in prices of these precious metals in June might not be the best news. However, the same price drop could entice new buyers who have been waiting for the right moment. The gold price on the Multi Commodity Exchange of India (MCX) has decreased by Rs 15,000 per 10 grams, which is a 9.73% drop since June 1.
Similarly, silver has seen a decline of nearly Rs 45,000 per kg or 17% in the same period. Investing at these lower prices could be beneficial for new investors, as any recovery from this point would work in their favour. Still, there’s always a chance that prices could fall further. So, what should new investors do? And what about the existing investors? Will they witness a recovery in their investments or will further declines add to their concerns?
