Buy or wait now? Will gold be cheaper after reaching the record or will the price increase further?

Gold price predictions: There has been a tremendous increase in the price of gold just before the festive season. In such a situation, the question is arising that if someone is still making up his mind to shop, then will he wait or the price of gold is going to increase further. According to the market experts, its price can be seen further.

The rise in the price of gold is being seen at a time when it is expected that the monetary policy meeting of the US Federal Reserve is being estimated to cut interest rates in the monetary policy meeting of the September.

What do experts say

AVP (Commodities and Currency) of Anand Rathi Share and Stocks Brokers says that the price of gold may increase further in the next few weeks. The US Nonform Perols (NFP) report states that the pace of hiring slowed down in August and the unemployment rate has reached the highest level after 2021, causing the American economy under pressure.

Apart from this, the political situation in Japan and France has also increased geopolitical tension, which has increased the demand for gold. It is estimated that gold can reach $ 3,720 to $ 3,750 an ounce in the next three to four weeks. In the Indian market, it can range from about Rs 1,12,000 to Rs 1,12,500 per 10 grams.

How far will the emotion go ahead?

Soumil Gandhi, Senior Analyst (Commodities) of HDFC Securities, says that the strong demand of central banks, investment in exchange-traded funds and cutting in interest rates have promoted the boom in precious metals. He says that the demand for safe investment properties has increased due to geopolitical tension and concerns related to the policies of US President Donald Trump.

Trivesh D, COO of brokerage firm Tradjini, said that gold is hovering around $ 3,659 an ounce in global markets and making new records. Kayanat Chanwala, AVP of Jens Research in Kotak Securities, said that market participants will monitor the US inflation figures later this week, which can affect the direction of cutting interest rates in the fourth quarter. However, this will not change the expectations of cutting interest rates in September.

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