The news of the US Federal Reserve’s interest rate cut has had an impact on gold prices in India. Gold in India reached close to its record high. On Monday, the gold price on MCX reached Rs 71,597 per ten grams. At the same time, its price on the bullion market approached Rs 72,650. After the market opened in Monday’s trading session on MCX, it remained at Rs 71,530 per ten grams intraday. In fact, it is believed that the US may reduce interest rates. Therefore, a sharp rise in the price of gold is observed.
What do the experts say?
According to commodity market experts, gold prices will remain stable today, but its price may rise. The news of the US Federal Reserve rate cut may have an impact on gold prices. Head Anuj Gupta has advised investors to pay attention to bottom fishing. He said that gold prices in the international market have returned from historical highs, but we still expect an increase in the price of gold because the US federal rate is likely to be reduced. Following the US Federal Reserve rate cut, gold reached close to its record level.
Investor sentiment
Gold prices are expected to trend positively this week as expectations of a rate cut by the US Federal Bank in September may help keep prices at a lower level. News of resilience in the US market, international tensions and the Federal Reserve. The news of the bank rate cut may weaken the dollar; in addition, China’s central bank has announced a new gold import quota, which has fueled speculation about an increase in gold purchases.
What is the Federal Reserve?
United States Federal Reserve Established in 1913, it is the central bank of the United States of America, which is equivalent to the Reserve Bank of India in India. The Federal Reserve makes decisions on the monetary policy of the United States. Reserves are mainly related to interest rates. This is intended to promote economic growth in the country. Its decision has a global impact.
I am Sagar Patel, specializing in business news reporting. With a keen focus on economic trends, market analysis, and corporate developments,
