Gold price: Indians responsible for rising gold prices, report reveals

Buying Indian Gold: Gold prices have been increasing steadily for some time now. Now a report claims that Indians are also largely responsible for this. The report said that the gold prices continued to rise due to heavy buying by people in Asia. People in India are also buying gold in a big way. This is the reason why gold prices have increased by about 11% in the last few weeks.

Shopping is happening all over Asia including India.

Goldman Sachs (Goldman Sachs has said in its report that several factors are responsible for the rise in gold prices. But, one of the main reasons for this is the shopping by people from all over Asia, including India. Apart from this, central banks of emerging countries are also buying gold on a large scale. These things are affecting the whole world and gold prices are constantly increasing. Gold prices have increased by more than 17% in the last two months alone.

The effects of Middle East tensions are also visible.

Goldman Sachs experts estimate that such a high price of gold is not suitable for the market. Generally, gold, currency and real estate are seen as interconnected. A rapid rise or fall of one of them does not bode well for the others. Apart from this, current tensions in the Middle East and political changes around the world have also affected gold prices. The war between Israel and Hamas has been going on for months and on Saturday, Iran added fuel to the fire by launching drone attacks on Israel.

Sleep can only stop because of these things.

If a peaceful solution to the Middle East conflict is found, the central bank reduces its purchases and questions about China’s economic growth fade, gold prices could stabilize, the report said. If this does not happen, it is not easy to stop the rising gold prices.

Also read this

Housing demand: Demand for affordable homes slows, Indians buy multi-crore homes.

Leave a Comment