GJ Town India

The next potential milestone for gold could be around $3500   Recently, Dr. Renisha Chainani, Head- Research, Augmont - Gold for all, said in her weekly Blog that, gold prices reached a record high of $3397 (~Rs 96747) on exchanges and nearly Rs 1 lakh in the spot market after adding 3% GST. Concerns over global economic growth as a result of the escalating Sino-U.S. trade war are driving the rise, with a weaker dollar adding to the momentum.  Fundamentally, markets are pricing in increased geopolitical risks, fueled by U.S. trade tensions and stagflation concerns, while persistent central bank demand adds to price pressures. On April 2, US President Donald Trump imposed "reciprocal tariffs" on dozens of countries, and while his administration has suspended duties for some, it has escalated its trade war with China.    China cautioned countries on Monday not to strike a bigger economic deal with the United States at its expense, a move Trump is allegedly looking ...

The gold price immediately recorded a record-high spike   Dean Belder, the market analysts said, “gold nearly breached the US$2,600 mark, while silver was above US$31 following half point cut by the US Federal Reserve. The US Federal Reserve reduced its benchmark interest rate for the first time in four years on Wednesday (September 18), beginning its cutting cycle with a sizeable 50 basis point reduction. The Federal Open Market Committee has held rates steady since July 2023 after starting to hike in March 2022.”   Colin Shah, MD, Kama Jewelry said, “The higher-than-expected 50bps rate was cut by the US Fed after four years of strict maintenance of elevated rates to tame inflation. This rate cut comes at an opportune time and is also an influence of the slight dip in unemployment in the US.  The gold price immediately recorded a record-high spike, as a reflection of the announcement. This scenario must be taken positively as the rate cut has opened doors for gol...