Gold prices rise to Rs. Likely to be 50 thousand

- Bullion Bits: Dinesh Parekh

- World gold price rises to ૮ 1,200 an ounce: Silver hints signs of growth

The Fed's future policy in the world market does not seem to have a definite plan and does not indicate when the Fed will raise its interest rates and the indecision of when to start cutting money flows stabilizes gold prices and fluctuates between ૫ 15 an ounce and લર 15 an ounce. The direction of the collision has become zero. The price had gone up to ૮ 1,200 last weekend. It does not indicate when oil prices will rise or when oil production will increase. And it remains to be seen what trend OPEC will take in oil production and in such a volatile environment, oil prices will support the gold rally. There are reports that demand for gold in China will increase, but the new virus from Pandamic is expected to boost China's economy. As the demand for gold improves in the run-up to the festive season in India, gold imports are much higher than in September last year, with producers ready to supply against the demand of 7 tonnes of gold imported in September 2021.

Analyst Raymond James says comparing margins, lower gold, silver and copper prices in the 3rd quarter of this year put inflationary pressure on the metals. The overall uncertainty of the Fed's monetary cuts, signs that interest rates will not rise to 205, dollar fluctuations, strong oil prices, continued buying by banks, stern action to refine gold from Africa to Dubai through illegal mining in Switzerland and demand from China and India for gold and gold. Breaking the surface of the ounce will show the above prices. Global silver prices fluctuate between 20-2 cents an ounce, leaving investors bewildered, but speculators have a chance to make a profit, and it would not be a surprise if silver takes a bullish trend and moves towards the 200 cents.

Overall, the price of silver will bounce back. Local gold prices once again quote Rs 2,000 per ten grams after ten days on Thursday, suggesting a rise of Rs 30,000 in Diwali.

Sales of gold jewelery, coins and bars have improved in Dussehra and showroom owners have increased their stock by buying from wholesale wholesalers and chain manufacturers at lower prices. The strength of global gold has taken a U-turn after Wednesday, when gold was quoted at Rs 2,000 per 10 grams on Thursday, when it was quoted at Rs 30 per 10 grams in the futures market. The gap between futures and spot gold prices has remained unchanged at Rs 1,200 per ten grams. There is a slow improvement in the revenue of old gold jewelry.

A new observation has been made in India this year stating that there is a challenge to the demand for gold which shows that household investment and savings in the agricultural sector have declined as farmers' incomes have declined while rising petrol prices and inflation in household savings. The fact that people's savings have fallen because of the increase will have an impact on gold prices. Earnings are the biggest contributor to the demand for gold. As India's economy grows, so does the sale of gold, but as its household savings decrease, so does the demand for gold and the purchase of gold. Importers import silver at all prices and this import is likely to increase a lot this year. There has been a slight improvement in the old silver income. In Diwali, silver seems to show a one-time price of Rs 50,000 per kg.