Gold
Hey, do you think the good rate will decline further? Today, 26/7 it is ~69k, from 74k few weeks ago. Because of budget changes?
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Yes, that is mostly because of the budget changes. In the budget, 2024, the custom duty has dropped from 15% to 6%. Hence according to experts, the gold price should drop by 4 to 5%. Moreover, in September, there is a very high possibility of rate cut in the US. Generally, if the rate cut happens, the gold price will rise, but this will be in September 2024. The global commodity market analysts predict that gold may decline a bit further, but it is very high possibility that it will rise in September and after that. But again, all this is lots of information stitched together and trying to come up prediction, which might go completely wrong. Hence, do your thorough due diligence.
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