InvestorQ : why the price of gold is consistantly rising ,what will be the phase in future ?
Ritesh oza made post

why the price of gold is consistantly rising ,what will be the phase in future ?

Suhani Mirza answered.
2 years ago
On 19th August 2019, the Indian price of global gold gained again till Rs.38000 and is estimated to elevate more.
If we look at the global prices, it rose to five-year high. This happened after the rate cut by US Federal Reserve. Due to the ongoing China-US trade war and the policy for easing monetary by central banks is working as fuel for the current gold price trend.
I have listed below some major reason for driving gold prices higher:
1) Lower Intrest rates in US- This discouraged the investors to hold gold thus making it weaker.
2) Buying gold from global central banks- According to the recent by WGC, some central banks in Asia like China, India and Kazakhstan and some countries from Europe such as Russia, Poland and Hungary have accumulated gold. Even though the purchase of gold is at minimal level it has significantly affected the gold price.
3) Ongoing trade war- Till the time the trade war between US-China remains, the gold prices is less likely to settle down at its standard price.
However, today on 20th August gold prices has fallen substantially till Rs. 37,700 by Rs. 1000.

Roshni Hegde answered.
2 years ago

On MCX October, Gold has reached new heights by rising 1% to ₹39,152 per 10 grams. In Mumbai, gold sets the soaring record of ₹40,000 per 10 gram. Reason for the hike in price is the fear that is mounting for the global recession.

Due to the continued trade tensions between the US and China, the escalation of the gold price is expected more by 1.07% to ₹45,080.