gold and silver prices
If you are planning to invest in gold or buy gold, do this work now without any delay. According to market experts, the price of gold is going to touch the sky in the last three months of the year. The market inflation is likely to set a new record. Apart from the upcoming festival season, there are many factors behind this inflation.
In the budget approved at the beginning of the year, customs duties on gold were reduced, which led to a significant drop in the price of gold. At that time, the price of gold had fallen below Rs 70,000 per 10 grams. But lately India has again announced an increase in its gold reserves, with which gold prices are rising.
There will be a direct impact of the festive season
The festival season has begun in the country with Ganesh Chaturthi and the wedding season is about to begin. In such a situation, the demand for jewellery will increase across the country and as a result, the price of gold will increase. The demand for gold in the country on Dhanteras remains much higher than throughout the year. According to market experts, the price of gold on Dhanteras may reach a new record this year.
read this too
The US Reserve Bank will reduce interest rates
In view of the growing recession in the United States, the Federal Reserve Bank might cut its interest rates. The reason for the recession in the United States is the presidential elections taking place there. At that time, there is pressure on the American government to reduce its interest rates. There will be a rise in the price of gold when the decision to cut interest rates is taken.
The ongoing war between countries is also the reason
Whenever there are clouds of trouble in the world, the price of gold rises even more. Currently, there are wars in many parts of the world, including Israel-Hamas and Russia-Ukraine. If the situation worsens in the future, there will be an increase in the price of gold.
Gold actually works as an insurance in difficult times. Due to geopolitical tensions, the global supply chain is greatly affected. Its effect is also visible in the financial market. In such a situation, to reduce their risk, investors increase their investment in gold. Investors give more importance to physical gold than to sovereign-backed gold securities, so gold prices rise.
