Gold prices are rising today. Due to Trump tariffs, all eyes are on gold. Whenever instability increases in the world economy, people rush towards gold. Meanwhile, Goldman Sachs has made a big claim. Goldman Sachs claims that soon the price of 10 grams of gold can reach Rs 1,55,000.
Today, on September 5, the price of 24 carat gold in MCX at 10.16 am is Rs 106,928 per 10 grams. It has seen a rise of Rs 511. Gold has so far made a low record of Rs 106639 and a high record of Rs 106,928. Earlier, gold had closed at Rs 106,417 per 10 grams.
The price of gold in MCX has been above Rs 1,05,000 for many days. But if we believe the report of Goldman Sachs, then this price can reach Rs 155,000.
Why can there be an increase?
Goldman Sachs believes that if the US Federal Reserve reduces its Fed rate, the price of gold can skyrocket. If media reports are to be believed, the US Federal Bank is getting pressure from President Donald Trump.
What will happen with Fed Rate Cut?
The dollar will fall, which can increase the demand for gold in America. At the same time, the demand for gold will increase due to the strengthening of the rupee in India. This will also increase the price of gold.
Earlier, this estimate by Goldman Sachs for 10 grams of gold was $ 4000 per onus. It has now been increased to $ 5000 per onus. This estimate was made amid high US tariffs and growing uncertainties in the world economy.
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