Gold Price: After the fall of the last two weeks, there was a strong jump in gold this week. In the domestic market, the rate of MCX gold rose by more than 4 per cent, while the price of spot gold gained 2.65 per cent. Gold closed at Rs 96,535 per 10 grams on MCX on Friday, which is a gain of Rs 3,835 against the previous week as against Rs 92,700.

The fall of rupee increased domestic market

According to experts, the fall of Indian rupee in this gold rally also played an important role. The rupee weakened more than 1 per cent against the dollar last week, causing gold in the domestic market. Because of this, investors made gold purchases as a safe option.

America’s uncertainty became a big reason

The US Federal Reserve has kept the interest rates stable at 4.5 per cent. Apart from this, the impact of economic instability in the US and increasing tariffs is clearly visible on the demand for gold. The cut of 25 basis points of Bank of England has also supported the gold price.

Border tension and global tariff war also causes

At present, investors are scared of the market uncertainty. The threat of foreign films by America on foreign films and pharma sectors has increased tension in the global market. At the same time, the increasing tension on the India-Pakistan border has also intensified the demand for safe-hevan demand in the domestic market. However, the news of the US-China trade tox and the new trade deal of the US-UK has given the market a little stability. But the global confusion is still intact.

Now buy or stop? Know the outlook of gold

Currently, the rate of gold can be between 94,500 and 97,500. If it breaks the level of 97,500, then it can also go up to 98,780 or a record high 99,358 rupees. At the same time, gold is supported at $ 3,280 an ounce internationally, which can open up to $ 3,420.

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