Everything increases when you think you can buy gold? Why so much change in the price of gold? Do you want to know that?
In the US, the US FEDERAL RESERVE has been raising interest rates to curb inflation. Due to the increase in interest rates, many banks are going bankrupt. For now we can say SILICON VALLEY BANK, SIGNATURE BANK etc. But there are fears that some more banks will go bankrupt if interest rates continue to rise.
Also Read: The price of gold fell sharply.. What is the situation today?
Also, due to the rise in interest rates, companies have to pay more interest on their loans. If the interest rate is high, the company’s profit will decrease, already the situation is not good, if the profit decreases, the share price of the company will decrease in the stock market.
When stock prices fall, people tend to move towards safer investments. Gold is the first choice as a safe investment. The situation is bad and because of that people are flocking to gold, the situation is even worse but the fear of more people coming to invest in gold is the reason for this extreme volatility in gold prices.
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