00:00Sir, you said that in the coming time, gold prices will be seen to increase.
00:04If we talk about the particular next month, that is, September 2024,
00:09then what outlook do you see of gold in it, what ups and downs will come in September,
00:14and what are the factors that will impact the prices of gold in the month of September?
00:19The biggest reason that will affect the prices of gold in the month of September is the policy of the US state in the month of September.
00:27And most of the information here is that the US state is trying to cut interest rates from the month of September.
00:34So we believe that it will be the biggest factor that will affect the prices of gold next month.
00:40If the US state starts cutting interest rates, then it will definitely be a positive step for gold.
00:49The second thing is that the US Fed Chairman has cut so many basis points because the market is already discounting 25 basis points.
00:58If you get to see a larger rate cut there, then you can also see a big spike in gold.
01:04But the overall trend will be volatile in the month of September and support will be made in the initial stages.
01:11The policy meeting of the Fed is a significant factor that will affect the prices of gold in the month of September.
01:18Sir, the second festive season is also coming.
01:20If we talk about Diwali last year, then the price of 24 carats of gold was Rs. 60,600 per 10 grams.
01:30What can we expect this time?
01:33Because we usually see the festive season because the demand increases a lot.
01:38Because of this, we can see a hike in prices.
01:40What outlook are you seeing for Diwali?
01:44We expect prices in the international market to reach $2650 to $2680 by November.
01:53It is currently trading at $2550.
01:56If we talk about the prices of gold in the Indian market, then we can expect to see prices of up to Rs. 75,000 per 10 grams by Diwali.
02:06So, we can expect to see prices of gold up to Rs. 2,500 to Rs. 3,000 by Diwali.
02:13So, we can expect to see prices of gold up to Rs. 76,000 to Rs. 77,000 by Diwali.
02:18Sir, will there be a right time to invest in gold in the near future?
02:23Because people who want to buy gold for their wedding or for Diwali, should they buy it now or should they wait for the right time?
02:34And what will be the right time?
02:36People who want to buy gold in the near future, should buy it now because we are not seeing a big fall in gold prices.
02:45And long term investors can make a systematic investment here and accumulate at every fall.
02:52We believe that gold will not fall below Rs. 71,000.
02:57And here we will gradually see an increase in prices.
03:00And the price of MCX will be seen to come up to Rs. 75,000 by Diwali or by the end of this year.
03:06So, there is a low possibility of a big fall here.
03:09There is a high possibility of an increase above.
03:11So, long term investors can accumulate at every fall.
03:16Those who have requirements for the festive season in the near future, they can buy here at the current level.
03:23So, if you want to buy gold for your wedding or Diwali, then the current level of gold you are getting can be the best time for you to buy gold.
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