Goldman Sachs predicts gold to reach 2,000$

Goldman Sachs predicts gold to reach 2,000$

Amid a sharp rise in the US stock market, rising foreign investment in Indian digital commerce and start-up companies and declining high-value imports like gold due to lockdowns have weighed on the current account. Forex reserves have reached a record high of ૩ 215 billion. Supply increases against

the dollar requirement. The stock market is also booming with overseas markets and abundant liquidity. However, the rupee has stalled. The fiscal deficit is widening. In the first nine months of this year, the budget deficit has widened to 9 per cent due to rising social spending and declining government revenues related to the Corona lockdown. The highest deficit is after 19. India's credit rating is likely to junk as the deficit exceeds the government's target. The government is expected to control the deficit by divesting some companies, including Coal India and IDBI. The rupee has weakened again. The rupee had fallen from Rs 2.50 to close at Rs 8.30. The short-term range is 6.50-8.5. Going forward, the chart is likely to go up to 8.30-4.30. The Dolex 7 does not hold up, the possibility of the rupee going up to Rs 6.50 if it goes around 8 going forward will not be ruled out. Rated downgrade is also a negative factor for the rupee. The rupee has a rangebound against the euro and the pound in other currencies.
Speaking of world markets, the Shanghai Stock Exchange rose 15 per cent to 200 in one week, with China advising to boost the stock market. The index of technology stocks, CI200, has risen 3% this year. Earlier, when China issued a bullish advisory in 2016, the Shanghai index rose from 2,000 to 2,100 in June 2016, but then the bubble burst and in March 2015, the index rose to 200 again. A number of companies made billions of dollars. Retail traders and banks sank 2,000 billion. China's focus now seems to be on easing military tensions and improving its image by boosting stock markets. Commodity markets have also rallied behind the stock market. Metals, gold and iron ore have also risen. Gold has reached ૫ 1,215. Goldman Sachs has said that gold will cross 2,000 a year.
The Nasdaq is booming in the US. In technology stocks, Tesla has risen from ૭૬ 15 to ૫ 1,200 in 12 months. Many well-known billionaire hedge fund managers have been trapped in shortsells as the Tesla rocket speed has increased in the last three months. With Amazon at ૩ 5,100, its owner, Besoz, has a net worth of ૮ 150 billion. In the list of billionaires, Tesla owner Musk and Reliance owner Mukesh Ambani are ahead of Buffett. However, Buffett has donated ૩૭ 3 billion between 2002 and 2020, making it difficult to beat Buffett.
Penny stocks in US markets have a bullish mania. The Fed has been slowly lowering liquidity. Between the second lockdown, the second wave of the virus and the lack of patience about the arrival of the vaccine, there is an incomprehensible dilemma in the markets. The politics of hatred is reaching its climax ahead of the US presidential election.
Europe's currency was totally stable. The UK has provided special infrastructure stimulus to stem the recession. The European Central Bank will now increase bond buying under the guise of green bonds in the name of sustainability. Yields have fallen sharply in Europe. Now the 100-year-old band is also in full swing. In the short term, the euro ranges from 1.1500-1.1300, and the pound range from 1.30-160. In Asia, the yuan has improved from 8.05 to 7.5 and the yen from 105 to 105.50. The currencies of emerging countries like Indo Rupee, Turkish Lira, Brazilian Real have survived.