As the demand for gold increases, so does the price. But the gold demand and gold demand of the people alone does not seem to be declining.
We asked commodity expert Shyam Sundar about the reason for the rise in gold prices.
“Gold is trading at highs and lows because of the direct link between the price of gold and the US economy.
At the conclusion of the US FOMC meeting last Wednesday, it was announced that interest rates will be raised three times in 2022.
This announcement did not have any negative impact on the market. Already, as this is the news expected by the markets, the international price of gold has begun to move upwards.
Currently, there are fears of an omega-1 spread next to Govt19, and according to the US Federal Reserve, the price of gold is likely to rise further internationally if interest rates are not raised or postponed at next year’s monetary policy meeting.
As of today, the US dollar index stands at 95-96. If it falls below 95, the price of gold is expected to rise further. ”
Seeing the rising price of gold, many people are buying jewelry. Fear of what to do if prices rise further is the main reason they are currently buying gold. The price of gold in our country is rising as the value of the rupee against the dollar has gone above 76 rupees.
Still others, instead of buying gold as jewelry, are investing in paper gold and gold bonds in ETFs.
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