Gold Investment: You can become a millionaire by investing in gold, the bullion market will gain further momentum, know the details…

Gold Investment: Gold prices have created a new record in the international and domestic markets. In the international market, the price of gold reached $ 2685.42 per ounce, while in the Indian domestic market it came to Rs 75,750 per 10 grams on MCX. Gold prices have increased by 30 percent so far this year.

According to experts, the main reason for the rise in gold prices is the cut in interest rates by the US Federal Reserve. The Fed cut the interest rate by 50 basis points this month, after which the interest rate came in the range of 4.75 to 5 percent. Due to this the dollar weakened, which benefited gold.

The increasing tension between Israel and Hezbollah and global instability have also attracted investors towards safe investments. In this environment, experts estimate that the price of gold may cross the level of Rs 1 lakh in the coming time.

According to Anindya Banerjee of Kotak Securities, the price of gold can reach $ 4000 per ounce in the next four years, due to which the price of 10 grams of gold in the domestic market is likely to reach Rs 1,10,000.

Continuous purchase of gold by central banks around the world is also a major reason for this boom. Demand for gold has also increased as investors' attention has shifted towards safe assets. (Gold Investment)