A bumper jump in the price of gold 

If you are planning to invest in gold or buy gold, then do this work now without delay. According to market experts, the price of gold is going to skyrocket in the last three months of the year. It is possible that the inflation of the market will set a new record. There are many factors of this inflation along with the upcoming festive season.

In the budget passed at the beginning of the year, the custom duty on gold was reduced, due to which there was a good decline in the price of gold. At that time gold had come down below the rate of Rs 70,000 per 10 grams. But in recent times, India has announced an increase in its gold reserve again, with which the price of gold is seeing a rise.

The festival season has started in the country with Ganesh Chaturthi and the wedding season is about to start. In such a situation, the demand for jewelry will increase across the country and as a result the price of gold will rise. The demand for gold on Dhanteras in the country remains much higher than the whole year. If market experts are to be believed, the price of gold on Dhanteras this year can set a new record. In view of the growing recession in America, the Fed Reserve Bank may cut its interest rate. The reason for the recession in America is the presidential election to be held there. At such a time, there is pressure on the US government to reduce its interest rates. If the decision to cut interest rates comes, there will be a rise in the price of gold.

Whenever clouds of trouble loom over the world, the shine in the prices of gold increases further. At present, war is going on in many parts of the world including Israel-Hamas and Russia-Ukraine. If the situation worsens further in the coming time, then there will be a jump in the price of gold.

Actually, gold works like insurance in difficult times. Due to geopolitical tensions, the global supply chain is affected to a great extent. Its effect is also seen on the financial market. In such a situation, to reduce their risk, investors increase their investment in gold. Investors give more importance to physical gold instead of sovereign backed gold securities, due to which there is a jump in the price of gold.