New Delhi: Gold is considered the best investment. This trend has also increased. For the first time in the country, gold has crossed the level of Rs 1 lakh per 10 grams. The 24 -carat (99.9 percent purity) gold at the Mumbai bullion market is Rs 101,350 in the Mumbai bullion market due to the US President Trump’s Tariff Scheme and Federal Reserve. The price of 22 carat standard gold is Rs 95400.
The price of gold in India depends on the international price. Currently, the price of gold has increased by 59 per cent to $ 3500 an ounce as compared to March 2024. Gold became expensive due to the weakening of the dollar. There is uncertainty about American monetary policy. The Federal Reserve (reserved gold reserve) chief Jerome Powell is not cutting interest rates despite a fall in the dollar price. Trump has criticized him for this. The trust of American investors is also shaken. The dollar has dropped the most in the last three years. While gold prices are rising, the risk in the stock market has increased.
Inflation is increasing due to the US-China trade war and the dollar price is falling. Trump said that if the interest rates on the dollar are not reduced, they would not hesitate to remove the Federal Reserve chief. Increased stress due to Russia-Ukraine war has also affected gold prices. The Federal Reserve warned that due to the tariff it would be difficult to keep the prices stable and to maintain complete employment.
Investors have retreated due to the ongoing tension between Trump and Federal Reserve. The situation is also deteriorating due to America’s economic landscape and debt crisis. Gold prices have reached such a height due to the attitude of institutional investors.
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