Gold Price: Do you know the price of gold is increasing for Tina! But who is Tina? Know whether it is time to invest or not

On April 12, the all-time record gold. The yellow metal touched Rs 73,958 on MCX. Today its price is 70,725 Tk.

Since March 1, gold prices have been increasing steadily. But the reason for the price increase is not understood. Some were blaming geopolitical instability. Some were saying that the Ukraine-Russia war caused such an unusual price increase. But the real reason is the ‘Tina Factor’.

Now the question is, who is Tina? Why are people buying gold like this? Tina did not make much of an impression on the Indians. However, the neighboring country has made a fuss in China. According to a recent report, China bought the most gold in the world in 2023, 630 tons. And Indians bought 562.3 tons.

What is the Tina Factor: Tina means one who has no alternative. Those who fear the uncertainty of the future are investing in gold. China’s retailers, investors, traders have forced the central bank to buy gold. As a result, the price of gold is increasing.

Huge Demand for Bars and Coins: Lately China has seen huge demand for gold jewellery, bars and coins. Demand for gold jewelry in Beijing rose 10 percent. In India this demand has decreased by 6 percent. Investment in bars and coins in China increased by 28 percent.

Important information has emerged in Bloomberg’s report, citing Philip Klapwijk, managing director of Hong Kong’s Metal Insight Ltd. He indicated that these prices may increase in the future. “Demand looks set to increase,” says Philip.

China’s property sector has been increasingly weak over the past few years. The stock market is also volatile. But good rise was not seen even once. China’s currency, the yuan, is also gradually weakening against the dollar. For all these reasons, investors are flocking to gold. After hearing everything, they call Sona ‘Tina’, which means there is no alternative.

Klapwijk also believes that China currently has no other options. Due to investment and capital controls one cannot think of investing money in any other market. In the last two years they have bought 2800 tonnes of gold from abroad. Which is more than the total gold backing exchange traded funds in the world.

So is this the right time to invest: Commodity expert Ajay Kodia says the conflict between Iran and Israel has created fresh volatility in the geopolitical environment. Gold and silver prices are increasing from the beginning of 2024. This trend will continue in the future.