Business: For a long time, it was being speculated that the Fed Reserve of America may soon cut its interest rates. This proved to be true and on Wednesday, the Federal Reserve of America announced a cut of 50 basis points i.e. 0.50 percent in its interest rates. The special thing is that since the Corona epidemic, the Federal Bank of America had increased the interest rates to control inflation. After the increase in interest rates, this is the first time that the Fed Reserve has cut its interest rates. The effect of this announcement of the Fed Reserve is visible all over the world. It may affect the prices of gold and an increase in prices can be seen. Giving information about this, Colin Shah of Kama Jewelry said that the cut in interest rates by the Fed Reserve of America will definitely affect the prices of gold. After four years of continuous high interest rates, the Fed Reserve has cut 50 basis points more than expected. According to Colin Shah, this cut has been made after the decline in unemployment rates in America.

Increase in the price of gold

According to Colin Shah, the impact of the Fed Reserve's decision to cut interest rates has started showing immediately in the prices of gold. Since then, there has been a surge in gold prices, but it needs to be seen in a positive way. After the decision to cut interest rates, the price of gold can touch a new high. In such a situation, if you are planning to invest in gold, then you can get good returns in the future.

Demand for gold will increase

Colin Shah also gave information about its impact in India. He said that the festive season will start in India in the next few days. People do a lot of gold shopping on Karva Chauth, Dhanteras and Diwali. After this, the demand for gold also increases during the wedding season. According to Colin Shah, the increase in gold prices is not going to affect the demand for gold. Indians will do a lot of gold shopping in this festive season as usual. He hopes that this festive season, an increase of 10 to 15 percent can be recorded in the demand for gold. However, at present, there will definitely be a decrease in the demand for gold during the 16-day long Shradh.

Price can reach up to Rs 78,000

According to Colin Shah, the increase in interest rates by the Fed Reserve will definitely have an impact on the international market and its price can reach $2650 per ounce. At the same time, in the domestic market, the price of gold is expected to reach Rs 78,000 per 10 grams by the festive season.