Gold price falling in India..!? Reason for the increase in global level?

Gold prices have been fluctuating in recent days. Although gold prices in india have started to decline, they are rising globally. The indian Bullion and Jewelers Association informed that the price of gold was Rs.7474 per gram in india today at 11.40 am. This is around Rs 1000 less than the price it was sold at last Monday. gold is currently nearing the lows recorded in September. However, due to global geopolitical tensions and other economic factors, gold prices continue to rise. gold prices rose last week as the dollar strengthened. Investors considering gold as an investment are keenly awaiting details on interest rates from the Federal Reserve.
Low demand: Despite falling prices in the indian gold market, demand for gold has declined. As it is the wedding season and many people are expected to buy jewelry, the demand for gold is said to be at least lower in the local market.

Affordability for indian investors: Falling gold prices have made gold affordable for indian consumers. people who have postponed buying gold due to high prices during the festive season are now in a position to buy gold. Due to this, retail sales are also expected to increase.

US Economy: The Federal Reserve has raised interest rates. When the interest rate is high people invest in other schemes that offer higher interest. This reduces the attraction to gold. This impact is also a major factor in the decline in indian gold prices.

The reason for the rise of gold on a global level: Globally, especially in the Middle east countries, the political and economic situation is uneven. Because of this, investors there see gold as a safe investment. people in regions like the gulf countries also place a lot of importance on gold. Due to this, the demand has increased and the price of gold has increased.
For more interesting updates wa click and follow Indiaherald WhatsApp channel

Find out more:

Sowmiya Sriram

18/11/2024 08:43 PM