Gold Price Hike: There will be a huge rise in the price of gold, expert told when it will rise

The Kalamkar News, Gold Price Today: On one hand, there is a boom in the stock market. On the other hand, gold is touching new heights. Generally this is rarely seen. Even in Tuesday's trading session, gold is seen trading above Rs 64000. In such a situation, it is believed that the rise of gold may continue in the coming days also. We are not saying this, but market experts believe that after the Lok Sabha elections, gold prices can go up to Rs 70 thousand per ten grams.

According to market experts, there could be two important reasons for the rise in gold prices. Stable government in a country. Second US Federal Reserve. Let us know how these two reasons together can take gold to new heights. 

If experts are to be believed, the American Bank can make a big cut in interest rates on May 1. The indication of which can be clearly seen in the speech of the Fed Chief.

According to Tarun Gupta, Vice President of Dariba Jewelers Association, the country's GDP and inflation figures will be seen even better in the coming days. 

The effect of which will also be seen in the price of gold. On the other hand, Akshaya Tritiya will also take place in the month of May. Demand is high during this period. In such a situation, gold prices will also increase. Let us also tell you how the price of gold can reach the level of Rs 70 thousand.

This time gold crosses 70 thousand!

This is not a slogan. In the month of May, the price of gold can reach the level of Rs 70 thousand. This means that the price of gold may see an increase of up to Rs 5400 from the current level. We may see an increase of more than 8 percent in the price of gold in the next three months. 

At present the price of gold is seen at Rs 64500 per ten grams. In the current year, an increase of 1.6 percent has been seen in the price of gold. The amount of gold that should have been there in the last two months has not been seen yet.

What is the biggest reason?

The biggest reason for the increase in the price of gold is being said to be the expected cut by the Fed. The date of which can be announced by Fed Chairman Jerome Powell in his speech on Thursday. According to experts, in his speech, Jerome Powell may finalize the date of interest rate cut as May 1. Due to this trigger, there is a rise in the price of gold. This trigger may continue in the coming days. Due to which the price of gold can reach the level of 65,500 in the next two weeks.

Hope for stable government

The price of gold is expected to reach Rs 70 thousand in the month of May. When a new government has also been formed in the country. Which is expected to be stable. According to experts, both stable government and economic data are expected to improve in the coming months. Data for the fourth quarter of the financial year 2024 and the entire financial year will be released in the months of April and May itself. Besides, inflation figures are also likely to improve. The effect of which can be seen in the coming days also.

Demand will increase in Akshaya Tritiya

On the other hand, on the occasion of Akshaya Tritiya, there is an increase in the demand for gold in India. Due to which further rise in the price of gold may be seen. If experts are to be believed, the price of gold can touch Rs 70 thousand on the occasion of Akshaya Tritiya. Apart from this, geopolitical tension has not reduced yet. Its effect will also be seen in the price of gold. Also, there is a possibility of further increase in purchases by Central Banks due to which the price of gold will increase.