Gold rate today: These are the gold prices on August 30, Friday.. Gold is moving towards its highest price ever | News India

There was a slight increase in the price of gold on Friday, August 30. The price of gold has increased by Rs 100 as compared to yesterday. If we look at today's gold prices in Hyderabad, the price of 10 grams of 24 carat gold is Rs 1.55. 73,390. The price of 22 carat 10 grams of Pasidi is up to Rs. 67,390. But the price of gold has been fluctuating for several weeks. Gold prices are once again moving towards an all-time record. Earlier, the all-time maximum record was recorded above Rs 75 thousand. At present, the price of gold is moving towards Rs 74 thousand. There is news that there is a possibility of a huge increase in the price of gold in the month of September. Why the bearish futures market is also pointing towards a rise in gold. If we look at the price of gold internationally, one ounce of gold is trading above $ 2550. If seen in this way, it means that the price of gold is likely to trade above Rs 75 thousand soon.

Experts predict that the main reason for the rise in crude oil prices is the important meeting of the US Federal Reserve in September. Interest rates in the US are expected to fall by a quarter percent. Whenever the Federal Reserve cuts interest rates, we see gold prices skyrocket. This is because if the US Federal Reserve reduces interest rates, the yield on US Treasury bonds will decrease. Then investors increase their investment towards gold. Gold is the safest investment instrument.

When the stock market falls, or there is a financial crisis, it is common for investors to shift their investments towards gold. At present, there are reports that there is a possibility of an economic crisis in the US. Why does the data also show this? The jobs data for the month of September indicate a decline in expectations. Against this backdrop, it seems that gold prices are likely to rise significantly. On the other hand, domestically, jewellery purchases are also increasing during the upcoming festive season. Experts say that gold prices are likely to reach new all-time highs by Dussehra Diwali.