Rising dollar value...Falling gold price...!?
Rising dollar value...Falling gold price...!?
Recently, the price of gold has been reaching an all-time high, but experts say that the cost of gold will not rise to this extent in the coming months. As of Saturday, the price of spot gold in the international market rose by 0. 32 percent to trade at 2649.87 US dollars per ounce. The price of spot gold in the international market has increased by 29.47 percent in the last one year and has increased by about 12.69 percent in the last six months. That is, when calculating the last 30 days, the price of gold in the international market has decreased by 3.69 percent. international stock market experts say that this is the first time that gold price has fallen this much on a monthly basis since september 2023.
As of november 30, the price of one gram of 22-carat gold in chennai is Rs. 7150 and the price of one gram of 24-carat gold is being sold at Rs. 7800. The value of the US dollar is increasing internationally following the announcement that republican party candidate donald trump has won the US presidential election. Due to this, the price of gold is declining, according to Jigar Trivedi, a senior analyst at reliance Securities. Generally, investors and governments of various countries invest in gold in times of economic and political instability and trade wars. This has been the main reason for the rise in the price of gold for the past one year. It is believed that there is hope that these tensions may end following Trump's victory.
The value of the US dollar is also increasing as trump is expected to take various steps for the development of industry in the United States. Apart from that, war tensions are currently easing somewhat in the Middle east and negotiations are underway, says ajay Kedia, director of Kedia Commodities. The country's economic data is to be released next week on behalf of the US government. Following this, there is a possibility that the US Federal Reserve will make changes in interest rates. Therefore, investment professionals say that they can predict the direction of gold prices after next week.
Recently, the price of gold has been reaching an all-time high, but experts say that the cost of gold will not rise to this extent in the coming months. As of Saturday, the price of spot gold in the international market rose by 0. 32 percent to trade at 2649.87 US dollars per ounce. The price of spot gold in the international market has increased by 29.47 percent in the last one year and has increased by about 12.69 percent in the last six months. That is, when calculating the last 30 days, the price of gold in the international market has decreased by 3.69 percent. international stock market experts say that this is the first time that gold price has fallen this much on a monthly basis since september 2023.
As of november 30, the price of one gram of 22-carat gold in chennai is Rs. 7150 and the price of one gram of 24-carat gold is being sold at Rs. 7800. The value of the US dollar is increasing internationally following the announcement that republican party candidate donald trump has won the US presidential election. Due to this, the price of gold is declining, according to Jigar Trivedi, a senior analyst at reliance Securities. Generally, investors and governments of various countries invest in gold in times of economic and political instability and trade wars. This has been the main reason for the rise in the price of gold for the past one year. It is believed that there is hope that these tensions may end following Trump's victory.
The value of the US dollar is also increasing as trump is expected to take various steps for the development of industry in the United States. Apart from that, war tensions are currently easing somewhat in the Middle east and negotiations are underway, says ajay Kedia, director of Kedia Commodities. The country's economic data is to be released next week on behalf of the US government. Following this, there is a possibility that the US Federal Reserve will make changes in interest rates. Therefore, investment professionals say that they can predict the direction of gold prices after next week.