Gold Price Forecast:- There is a continuous jump in the prices of gold and silver. Gold rates are rising very fast. In most states of the country, the price of 24-carat gold remains above 1 lakh 9 thousand. The ups and downs in gold prices have continued this week. It is estimated that gold prices may experience significant fluctuations next week, as investors are closely watching the upcoming meeting of the US Federal Reserve. Amid expectations of the Fed cutting interest rates for the first time this year, gold is in the mood to touch new heights.
Gold is likely to trade volatily next week, as investors await the policy decision of the Federal Reserve (Fed). According to this decision by the Fed, a cut in US interest rates is expected for the first time this year.
At present, spot gold remains around US$3,650 per troy ounce. Gold prices are supported by a weak US dollar, falling real yields and stable safe investment demand. Analysts say that the two-day Fed meeting, ending on September 17, will clarify whether gold prices will rise further or not.
Why are gold rates rising
Currently, there is a steady increase in the price of gold. According to experts, the rise in gold and silver prices is attributed to countries such as China and Russia purchasing gold in large quantities, as well as global turmoil. People are investing a lot in gold, considering it a safe option.
Exchange rates of jewellery
Talking about the exchange rate, the exchange rate of old 22-carat gold jewellery remains Rs 99,600, while the exchange rate of old 18-carat gold jewellery is Rs 81,600.