As the price of gold rises, so does smuggling

- Boolean Bits - Dinesh Parekh

In the global market, the Fed will cut interest rates four to five times from the beginning of the year 2024, says Goldman Economist Jane Hexit, and adds that further changes in economic conditions will push gold prices higher and hit between $1,975 and $2,100 an ounce, Chicago Fed President Otto Gulsvey said. It is that next year the Fed will gradually reduce or increase the interest rate and will determine the price of gold depending on how much it will control inflation and any changes in the financial flow. Gold may once again break through the bearish circle and show new highs such as $2025 and $2200 per ounce after hitting $1875 and $1975 per ounce. As the dollar index shows a bearish trend, gold starts bullish and prices crash between $2,200 and $2,400 per ounce.

During the days of war, gold would set its own price, with oil prices also supporting the bullishness of gold.

A ban on the movement of ships in the Red Sea will cause a break in the rapid movement of oil and food commodities and cause a surge in prices.

It should be noted that the gold is being smuggled from Ghana's mines to Switzerland, and the gold is being transported to refineries via Dubai. Analysts say that India's and China's gold-loving behavior will lead to huge gold purchases, and the trend towards gold will not diminish for many years to come. As a result the price of gold will rise and break a new record. Overall, gold will show a new price after digesting the shocks of bullish depression.

Disagreeing with the above statement, gold professionals say that gold will hit between $1875 and $1950 per ounce.

Funds and investors take advantage of short-term fluctuations to make quick short-term profits, but hold long-term positions and approve gold's bullishness. Silver prices in the global market also showed a bullish trend like gold with spot silver quoting at 2433 cents per ounce. Silver miners tend to sell silver at new prices by hedging silver and keeping supply equal to demand to prevent silver shortages in the market.

There is a modest improvement in the income of old silver scrap. When the demand for solar energy increased in the world, by setting up the world's largest solar panel energy in India, it shows a new result of how useful solar panels are for energy in the world and can reduce the demand for petrol-diesel. As withdrawals of spot silver from vaults on New York's Comex market are increasing and people insist on holding spot silver, JP Morgan and other funds are taking a stance that they will supply silver by holding silver stocks in vaults. Demand for silver is rising from new sectors and consumption and use of silver is currently bullish in silver volatility, with prices ranging from 3200 to 3500 cents per ounce. The New York coin market sees a large change in buying per ounce of coins per ounce in manufacturing capacity. And the New York Mint has seen a shortage of silver.