Year Ender 2024 Gold Rate Outlook: By October 2024, the price of gold was seen rising by 35 percent, which is its best performance in 40 years i.e. 4 decades. After this, till mid-November, a decline of 5 percent was seen in the gold trade, despite this, there was an annual rise of 28 percent in gold, that is, its return has been more than 28 percent. Now if you have a question in your mind that how is the movement of gold going to be then we are telling you the gold outlook.
The effect of signals coming from America will be visible
As a decision of this time’s Fed meeting, the US Federal Reserve has cut interest rates by 0.25 percent and has decided to continue the process of cutting interest rates for the year 2025 also. After this, the trend of increase in dollar prices seems to be continuing and its adverse effect is coming on the gold rate. There is a possibility of a slow monetary policy in the year 2025 and on the basis of this, fluctuations are also being seen in the price of gold, hence gold had fallen to the rate of $ 2584 per ounce before going up to $ 2600 per ounce. .
What are the technical levels of gold?
If we look at the technical level of gold, the market was optimistic about its rise to $2634 per ounce. If gold goes above $2674 per ounce, its price can be seen up to $2725, 2780 and even $2840 per ounce. However, the possibility of a fall in gold rates due to global uncertainties cannot be ruled out.
How will be the price of gold in India?
A fall of up to Rs 76500, Rs 75200 and Rs 74000 can be seen in gold and the reason behind this is the strengthening of the dollar. Experts are predicting that gold returns like 2024 will not be seen in the year 2025.
Gold purchases by central banks continue
Central banks of many countries of the world are currently focusing on purchasing gold and their gold reserves. This can be a good strategy to deal with geo-political situations by strengthening gold reserves, hence, the central banks of Germany, France, China and India are also rapidly increasing their gold reserves.
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