Updated: Jul 25
Gold prices have been on a downward trend in recent months, and there are a number of factors that suggest that this trend is likely to continue in the coming future.
Rising Interest Rates
One of the main reasons for the decline in gold prices is the rising interest rates in the United States. As interest rates rise, the opportunity cost of holding gold increases, as investors can earn a higher return on their money by investing in interest-bearing assets.
For example, if interest rates rise to 5%, an investor who holds gold will be losing money on their investment if gold prices do not rise by at least 5%.
Strengthening US Dollar
Another factor that is weighing on gold prices is the strengthening of the US dollar. The US dollar is currently trading at a 20-year high against a basket of other currencies. This makes gold more expensive for investors who hold other currencies.
For example, if an investor in India holds gold, they will need to pay more rupees to buy gold if the US dollar is strong.
Uncertain Global Economic Outlook
Finally, the global economic outlook is becoming more uncertain, and this is also contributing to the decline in gold prices. Investors are becoming more risk-averse and are looking for assets that are seen as safe havens, such as the US dollar.
"There are a number of factors that are contributing to this trend," said Maharishi Aazaad. "First, interest rates are rising in the United States, which makes gold less attractive as an investment. Second, the US dollar is strengthening, which also makes gold more expensive for investors who hold other currencies. Third, the global economic outlook is becoming more uncertain, which is leading investors to become more risk-averse."
Maharishi Aazaad also noted that the current MCX Comex figures support his prediction. "As of July 19, 2023, the current price of gold on MCX Comex is ₹59,700 per 10 grams," he said. "This is a decrease of more than 8% from the beginning of the year."
Risks of Investing in Gold
Maharishi Aazaad urged investors to carefully consider the risks involved before investing in gold. "While gold is a valuable asset, it is important to remember that it is also a volatile market," he said. "Investors should only invest in gold if they are prepared for the possibility of losing money."
In conclusion, Maharishi Aazaad believes that gold prices are likely to fall in the coming future. He cites a number of factors, including rising interest rates, a strengthening US dollar, and an uncertain global economic outlook. He urges investors to carefully consider the risks involved before investing in gold.
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets and stocks comes with a risk of financial loss.
Sr. Research Analyst
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