Unbiased fluctuations in gold: As the rupee rose against the dollar, import cost retreated in the jewelery market.

- Boolean Bits - Dinesh Parekh

- Mixed signs of interest growth in America: China's dominance in the world market was seen in gold: 200 tons of goods were bought in six months!

Against the black market, investors are holding on to gold at low prices, waiting for a rate cut until the Fed's rate hike cycle completes, and ignoring any sign of a rate hike, entered a bullish circle and broke through $1,900 an ounce on the New York Comex market on Thursday, 21- 21 dollars per ounce shows a jump. It supported a reactionary gold price correction as Treasury bill returns fell and investors shifted to the precious metal instead of Treasury bills.

Fed Chairman Jerome Powell and European central bank chiefs will look at prices signaling interest rate cuts as early as 2024.

The Fed's rate hike policy will pave the way for gold prices, with China's ninth consecutive spot gold purchase pushing prices higher in the global market. China has bought 74,000 ounces of its gold reserves, bringing its gold reserves to 2,330 tonnes.

By purchasing 188 tonnes of gold in the last half-year, China has called for a gold premium of $40 per ounce above London prices, limiting gold imports without giving any reason, said Daniel Dobrowski, an analyst at Jadeili Consultants. Among them, fluctuations in oil prices have also supported gold's rally.

With Russia stepping up military strikes against Ukraine, the news that the Russian military shot down a plane carrying Wegener Mercenaries chief Prigozzi will reshape President Putin's battle tactics, making the fight even more dangerous.

The central banks of every country in the world are continuously increasing their gold reserves by buying gold. There are instructions for BRICS countries to usher in the era of new currencies by replacing the dollar with their own new currency.

Rising demand for gold and indications that the Fed will cut interest rates in early 2024 will provide bullish support to gold, and gold is expected to reach $2,100 per ounce.

Overall the bearishness of gold has stopped and there are bullish waves and gold will see a slow recovery. In it, long and short-term debt figures on New York's Comex market indicate that speculative investors, institutions and funds are bullish on gold prices and indicate that gold will move towards a bullish direction.

Silver was quoting at 2,423 cents an ounce on the Comex market in New York on Thursday, showing a jump of 100-100 cents in the global market, showing a faster rise than gold.

As gold and silver are precious metals, the price of silver includes industrial demand and steel demand. In this, silver prices are undervalued against gold with a gold-silver ratio of 1:79, demand for silver is increasing rapidly, and especially in the solar panel sector, the global silver stock will use up to 85 to 88 percent by 2050, and there will be a shortage of silver. In such usage of silver, investors will be able to take advantage of the price increase in the long term by holding the stock of silver by buying bullion, coins, vessels etc. In this, ETFs can take advantage of the price increase by buying shares of silver and silver producing mines.

Silver income is not only from silver mines but about 72 percent of the world's total silver income is produced as a by-product of metals like copper, zinc, gold etc. At that time, 24 percent of the world's silver production takes place in Mexico, Peru, China, Australia and Russia.

In 2023, the demand for silver in the photography sector accounts for 2 percent of the global total, hedging 1 percent, silverware 6 percent, photovoltaics 11 percent, jewelry 19 percent, in addition to 27 percent silver present and other industrial sectors 33 percent. Silver supply meets the demand but in the long run, as demand and consumption outpace silver income, there will be a shortage of silver and its impact on silver prices will not be surprising if silver crosses $50 an ounce.

Despite an increase of 20-25 dollars in global gold prices in the local gold market, the rupee is strengthening against the dollar in the jewelery market, and the gold prices are hovering around Rs.60,000 per ten grams and the prices are not increasing. When the price of gold is quoted at Rs.58,800 in the futures market, the current gold is quoted at Rs.60,200 per ten grams without mentioning the price of gold at Rs.1,400 per ten grams in the bill. At present, the gold present determines the dollar-rupee exchange rate. The consumption in the showroom is moderate.

Vintage gold revenue has seen a slight decline and vintage jewelry revenue has declined as consumers look for price hikes. Smugglers are trying new tricks every day to smuggle gold into the country.