By Admin 
Gold Price Hit Fresth Record: The glow of gold is increasing day by day. On Tuesday, its prices once again reached the new record. Along with this, during the last 14 years, the month was seen to be the highest in September. The reason for this is being considered as a possible shutdown of the US government and the expectation of interest rate cuts from the US central bank Federal Reserve, which further increased the demand for gold to be considered safe investment.
Gold boom in gold
Spot Gold price rose 0.2 percent to $ 3842.76 an ounce. In September, the price of gold on the Indian bullion rose 11.4 percent. That is, this is the first month after September of 2011 when the price of gold has climbed so fast.
After the recent economic data, the US Fed has increased the hope of cutting interest rates once again by the end of this year. It is believed that 25 basis points can be cut in the next meeting of Fed. St. Louis Federal Reserve President Alberto Mussalem said that he is ready to cut interest rates, but the fed against inflation will have to be vigilant.
Why the price of gold is climbing
There are many reasons behind the recent boom in gold and silver. The biggest reason is geopolitical stress and international market conditions. Apart from this, the festive season in India is also increasing the demand for gold. Trump high tariff and the fall in rupee has also affected the prices and demands of gold and silver. When the stock market fluctuates, investors are attracted towards gold considered to be the safest.
Even during political and economic uncertainty, people consider gold purchases the safest and suitable options, as it has proved to be the most returned investment in every inflation. The world’s largest exchange traded fund (ETF) SPDR said that it increased its gold reserves by 0.60 percent to 1,011.73 MT on Monday, while on Friday it was 1,005.72 MT.
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