• Gold at a three-and-a-half-month high!


• The bullishness is likely to continue


• Will the prices increase further on the eve of the festival?

Gold Price Hike: This news is very important for you if you are thinking of buying gold. The price of gold has increased significantly recently. Internationally, it crossed the $4,700 per ounce mark for the first time since May 14. A number of factors such as the devaluation of the dollar and China's purchases are said to have contributed to this rise in gold prices. ( Gold Price Hike

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These factors cause

Now, as the upcoming festive period is approaching, the price of gold will also see a boom. Today's figure is the highest figure in rates in the last three-and-a-half months. Global developments always have an impact on gold prices. At the same time, fluctuations in the US dollar and purchases by central banks also have a major impact on the price of gold. Now, the growing demand for jewelery during the festive season in India is giving a major support to this boom. Experts have expressed their opinion about this.

Gold prices will be stronger

Speaking about the current performance of gold, Colin Shah, founder and managing director of Kam Jewellery, spoke about the current situation and the contributing factors. He also clarified that the gold prices will gain further momentum.

These factors will have an impact on the direction of the rate

Talking about the current behavior of gold, Colin Shah said, “The sharp rise in gold prices underlines the importance of gold as a safe-haven investment in the changing global economic environment. The current bullishness has gained momentum due to changes in some of the factors that have hindered the bullishness of gold prices. In the coming period, US inflation data, movement of the dollar and clarity on the interest rate policy of the US Federal Reserve will continue to influence the direction of gold prices. However, in the medium term, gold is gaining solid support. Expect to stay.”

What is the flow of customers?

Talking about the flow of consumers, he further explained that, “Due to the increased gold prices in India, consumers are likely to become more value-oriented and planned in their purchases. Therefore, rather than reducing jewelery purchases altogether, consumers may prefer to buy jewelery that is light, attractive in design and offers more value. The upcoming festive season and wedding season will continue to support the demand for jewellery. In Indian culture, gold is important as a means of wealth preservation as well as celebrations in the long term,” he said.

However, Shah also noted that after a big rise in gold prices, there may be stability or fluctuations in the price in the short term, especially against the backdrop of changing geopolitical conditions.

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