Gold Price: Gold is getting expensive, the effect of the expectation of reduction in interest rates, the price may reach $ 3000 in the international market:

Gold Rate Outlook: Gold prices in the international market are now moving towards $3,000. In fact, on Friday, September 13, gold reached a new record level. The expectation of a cut in interest rates by the US Federal Reserve increased the shine of gold. At the same time, gold also became expensive due to the fall in the dollar. Today, on Saturday, at 2:45 pm, the spot gold rate rose by 0.78% to $2,578.24 per ounce. ]

These are also the reasons.

There is a lot of uncertainty about the presidential election in America. At the same time, major central banks around the world are planning to give relief in monetary policy. This can also support gold prices.

Experts believe that there are many signs of a rise in gold and silver. The European Central Bank has reduced the interest rate. The Federal Reserve can also reduce the interest rate, because the inflation data in America has been soft.

Rates are rising on this hope.

The CME Fedwatch tool is giving a lot of indications of a cut in interest rates in the US. Let us tell you that the probability of a 0.25 percent cut in interest rates is about 53% and the probability of a 0.50% cut is about 47%. The special thing is that this will be the first time when the Federal Reserve will cut rates after 2020. Gold rates are rising due to this expectation.

What else can be expensive?

Let us tell you that apart from the price of gold, other metals can also become expensive. These include palladium, silver, and platinum. The prices of these three have recently increased by 1 percent to 2.4 percent.