By Admin 
Gold Price: In the last few days, there has been such a jump in gold prices worldwide that the eyes of investors are now directly on the figure of 1 lakh. The growing business conflict between the US and China and the US dollar weakness has once again made gold “safe haven”.
New record in domestic market
Gold prices on MCX reached 93,940 per 10 grams on Friday and finally closed at 93,887. This is a gain of 5,757 in a week, or about 6.53 percent. Earlier this rate was Rs 88,130 per 10 grams.
The same condition of international market
Spot gold in the global market has touched a height of $ 3,245 an ounce and closed at $ 3,236.21. That is, a weekly lead of 6.41 percent. For the first time, the dollar index fell below 100 in two years to 99.89.
Why are gold prices rising?
America-China trade war
The Trump government has imposed heavy taxes on China, while the rest of the countries have been given temporary relief. This has a direct impact on the trade relationship. The US has imposed a tax of up to 145 per cent on some Chinese goods and China has also retaliated and has implemented rates ranging from 84 per cent to 125 per cent.
Dollar weakness
The dollar slipped below 99, giving gold support. When the dollar is weak, investors run towards gold.
Fed rate cut expected
Inflation figures in the US have come weaker than expected, which is believed that US Federal Reserve can cut interest rates this year. This has increased the glow of gold.
What will happen next?
According to The Mint’s report, experts believe that now the price of gold can touch the level of 95,000 to 95,500. In the long term, they can also touch the figure of 1 lakh per 10 grams. Internationally gold can go to the range of $ 3,280 to 3,320 doers.
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