Due to America’s mistake, there can be a huge increase in the gold price in the next one to one and a half months. This means that an increase of 4 to 5 thousand rupees can be seen in the gold price. In fact, this whole matter is related to the loan default of America. If America does not solve this problem on time, it can affect millions of jobs. After which recession can also be announced in America and gold prices will become rocket. On the other hand, it is being speculated that America can either reduce or keep the interest rates stable in the next Fed policy and MPC in India can keep the interest rates stable for the second time in a row. Let us also tell you what the experts are saying about this.
Loan default sword in America
At present, the sword of loan default hangs over America. Even on Sunday, a warning has been given by the administration of US President Joe Biden. The administrator says that if there is a loan default, then the jobs of lakhs of people in the country can be damaged. Policy makers, White House and bankers have repeatedly said that America is on the verge of default. Because of which the possibilities of recession have increased in the country. If the country does not solve this problem by June 15, then very serious consequences can be read.
Gold price will become rocket
IIFL Vice President Anuj Gupta said that if the US defaults on the loan, gold prices will rocket after that. He said that gold price can reach 65 thousand. Whose hope is visible. Loan default is a big issue for America and if this happens then the possibilities of recession will get strengthened. There will be an increase in the gold price. Gold gets support when there is an economic crisis and investors go towards safe haven. It is clear that an increase of up to 5000 thousand rupees can be seen in the price of gold in a month.
What is the stance of Fed and RBI?
There is another side as well. If America survives the loan default, then the dependence of the gold price will be limited to the Fed policy meeting which is going to be held in June. It is estimated that this time the Fed can either cut 0.15 percent or keep the interest rates stable. Apart from this, the policy meeting of RBI is also going to be held in the month of June and it is being said that MPC can keep interest rates stable for the second time in a row. In such a situation, a slight fall in the price of gold can be seen. But this is just a circumstance. About which no one is ready to talk now, why everyone’s eyes are on the loan default status of America.
Current flat gold price
There is not much movement in the prices of precious metals from foreign markets to local markets. Talking about foreign markets first, Gold futures on Comex is at $ 2,019.20 and gold spot is at $ 2,017.31 an ounce with a slight gain of $ 6. At the same time, silver futures are at $ 24.18 and silver spot at $ 24.06 per ounce. On the other hand, gold is trading at Rs 60,935 with a gain of Rs 48 on the Indian futures market MCX. On the other hand, Silver is trading at Rs 73,222 with a gain of Rs 168.
