Gold Price Today: On Thursday (January 30), gold prices reached a new record level. 24 carat gold rose by Rs 50 to Rs 83,800 per 10 grams. Silver also rose by Rs 1,150 to Rs 94,150 per kg.
Why are gold prices rising?
According to commodity experts, the possibility of increase in import duty in Budget 2025 is a major reason for this. Last year, the government had reduced the import duty by 6%, but this time it can be increased. Investment in gold is increasing due to this speculation.
Confusion among investors due to Trump’s policies
There is uncertainty about the economic policies of US President Donald Trump. Investors are leaving risky options (like stock market) and going to safe investment i.e. gold. For this reason, gold prices are continuously rising.
Effect of Federal Reserve
The US Federal Reserve has kept interest rates stable at 4.25-4.5%. This weakened the dollar, which increased the demand for gold. Fed Chairman Jerome Powell said that whether interest rates will be cut further or not will depend on the economic data.
Can gold go up to 90,000?
According to experts, if the dollar weakens and Trump’s policies remain volatile, then gold in India can soon reach Rs 90,000 per 10 grams. Investors are now keeping an eye on US GDP and jobs data.
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