Buy gold, soon its price will reach 81 thousand rupees, who made such a big claim? know

New Delhi. Gold is currently hovering at its highest level. In India, after the reduction in customs duty by the government, the price of gold suddenly fell, but within a month it rebounded. Internationally, even large investors and large investment banks see a safe future in gold. Goldman Sachs advises investors to maintain confidence in gold and make it their first choice in the near future. Gold should be seen as a strong safety shield against economic uncertainty. Goldman believes that gold prices are going to rise soon.

One of the main reasons behind this prediction is that the US Federal Reserve may cut interest rates in the near future. These cuts could lead to an increase in Western capital flows into the gold market, which has not been seen during the recent rally in gold prices.

Also read: Indians can stand there and buy all the gold of America if they want, they have 3 times more gold in their houses.

“An imminent Federal Reserve interest rate cut will bring Western investment back into the gold market, which has been absent during gold’s bull run over the past 2 years,” Goldman Sachs analysts said in a note. The note was titled ‘Go for Gold’.

Spot gold has already gained 21 percent this year and touched a high of $2,531.60 an ounce (Rs 2,12,549.09 per 28 grams / about Rs 75,910 per 10 grams) on August 20. Given this rally, Goldman Sachs has raised its gold price target to $2,700 (Rs 2,26,687.68 per 28 grams / approx. will reach Can reach the beginning. According to data available on Google, the price of gold in Delhi on September 2 was Rs 73,395 per 10 grams.

China will not let it fall.
One reason for this change is the price-sensitive nature of the Chinese market. Goldman also believes that if there is a big drop in gold prices, this will lead to renewed purchases from China, which will act as a protective shield against falling prices. “We believe that price sensitivity provides a form of insurance against a large drop in gold prices, which would likely encourage renewed sugar buying,” he said.

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In contrast, Goldman is more cautious on other commodities. For example, the bank expects oil prices to rise only modestly as the deficit narrows this summer and a slightly larger surplus is likely in 2025. Goldman’s cautious stance also applies to metals such as copper and aluminum, where it has lowered price targets and delayed forecasts due to supply and demand issues.

Additionally, Goldman has temporarily halted its coverage on zinc and adopted a negative stance on nickel. In short, Goldman Sachs sees challenges in various commodity markets in the current economic environment, and sees gold as a safe option for investors.

Tags: gold, Gold ETF, Gold investment, The price of gold, Gold price news