The eyes of the gold market players are now on the short interest rate hike in America

- Boolean Bits : Dinesh Parekh

- If the interest rate increase in the US is less than expected, the gold prices in the world market are likely to rise rapidly

The Fed's monetary policy in the global market continued to increase the interest rate, slowing the rate of inflation, the dollar weakened, and the decrease in the return of Treasury bills increased the price of gold by 1 percent, and the price of gold started to hit around 1664 dollars per ounce from 1670 dollars per ounce, showing the gold trend. But at the end of the week it is 1647 dollars.

The Fed will raise interest rates again in November by 0.75%. UBS analyst Gwalani Stronevo said the Fed may slow its pace of interest rate hikes with falling stock prices and a weaker dollar, benefitting gold - leading to a rally.

At present two categories of novelties are added to the market. One section believes that the Fed will control inflation by raising interest rates and this will have an adverse effect on gold prices, with gold hitting around the $1,600 per ounce level.

Yet another group believes that the Fed's rate hike policy will slow inflation and soften the dollar and lower Treasury bond yields, which will entice investors to invest in gold, resulting in gold once again entering a bullish cycle. In the war with Ukraine, the Russian president has threatened to use sophisticated weapons to win the war. In it, the attacks on Ukraine with the help of Iranian drones have been revived. It should be noted that after the imposition of sanctions on Russia by America and European countries, Russia's exports have increased by 25 percent, which has become a matter of concern for other countries.

In addition, oil price fluctuations, as well as friction between the US and Saudi Arabia for oil supplies, will cause oil prices to rise, which will help to stabilize and lift gold.

Canada has also hiked its interest rate by 50 points from 3.25 percent to 3.75 percent after the Fed's interest rates are expected to increase by half a percent in November, which will have a serious impact on gold prices.

A new type of fear has arisen among the Chinese people after Jinping was elected as the President of China for the third time. As a result, global gold premiums have skyrocketed, with more gold purchases coming through Hong Kong to include gold in one's own property, while Turkey is charging a premium of $80 per ounce for gold imports, banks are supplying gold to China and Turkey instead of India and other countries. is Which will make other countries feel shortage of gold.

In general, the war between Ukraine and Russia in the world, along with the threat of China to Taiwan, the tense atmosphere with North Korea, America and Saudi Arabia faced each other in the oil fight, inflation and oil shortage in European countries, the election of Rishi Sonak, a young man of Indian origin, as the Prime Minister in Britain, and in other countries, the lack of grain, water floods. Tandav etc. have made gold volatile due to the tense global environment and investors not knowing what to invest their assets in making gold directionless. As a result, there will be a boom in gold and it will not be surprising if gold again breaks the level of 1660 dollars per ounce and takes the direction in favor of 1800 dollars per ounce.

In the world market, the price of silver has fluctuated by 55 to 60 cents per ounce during the week. Silver is playing between a low of 1888 cents per ounce and a high of 1965 cents per ounce. The Fed's interest rate hike policy is not favorable for investment in the precious metal and everyone is holding on to silver as a hedging weapon for the safety of their assets by investing in silver for a long period of time at low prices.

Instead of silver in the global market, people's attraction is towards lithium and uranium and the tendency to invest in silver remains soft. Despite low silver prices at New York's Comex market, silver delivery figures from the vault continued to rise. As a result the volume of silver in the vault is decreasing which is a cause for concern as Morgan holds a large stock of silver which puts pressure on the market and controls the volatility of the silver price and does not allow prices to rise.

The volatility of oil supply against oil supply and its demand will lead to people shifting towards solar energy and taking new steps in the solar sector, the demand for silver in the solar sector will increase and in the long run the silver prices may rise like a spring.

Some silver mines are ramping up their production, and finding high-grade silver at a large company's silver mine will increase silver production and keep the supply situation under control.

As New York's short-term and long-term silver trades rose, investors are hoping that silver will rise in the long term and that silver holdings they have held for a long time will earn huge profits.