Gold and silver have once again entered a bullish phase. This week, gold reached the level of Rs 1,25,999 per 10 grams, while silver with December expiry strengthened to Rs 1,63,849 per kg. In this week alone, silver has increased by around Rs 13,000 and gold by around Rs 3,200. This video explains in detail why such a sharp increase is being seen in the prices of gold and silver. There are three major factors behind this. First, the possibility of the US Federal Reserve cutting interest rates in December, due to which investors are moving towards precious metals. Second, if following the signals from US Fed, RBI also adopts a soft stance and repo rate is cut, then gold and silver will get support in the domestic market also. The MPC meeting is scheduled to be held between December 3 and 5 and the market is keeping an eye on it. The third major reason is seasonal demand in India. After the festivals, the wedding season is now going on, due to which the demand for jewelery has increased rapidly. Jewelers say that due to high prices of gold, customers are getting more attracted towards silver at this time. Experts believe that apart from investment, industrial demand is also playing an important role behind this rally, because the use of silver is increasing rapidly in industries like solar panels, electronics and battery manufacturing. All these factors have been analyzed in depth in the video so that you can understand how gold and silver may trend in the coming days.
Rapid rise in gold and silver prices: Why are prices rising? Complete analysis of US Fed, RBI and demand.
