Will gold price drop in 2024?

It's true that global gold markets are influenced by various factors, including monetary policies and interest rates set by central banks like the US Federal Reserve. When interest rates rise, it can increase the opportunity cost of holding non-interest-bearing assets like gold, potentially leading to a decrease in demand and a subsequent decline in prices.

In India, gold prices are influenced not only by global factors but also by local demand dynamics, such as cultural events, festivals, and weddings, which often drive gold consumption.

To get an accurate prediction of the gold rate trend in India for 2024, it's essential to consider a wide range of factors, including global economic conditions, geopolitical events, inflation rates, currency fluctuations, and local demand patterns.

Financial experts, analysts, and research institutions often provide forecasts and insights into gold prices, taking into account these various factors. It's advisable to consult such sources for the most up-to-date and informed predictions regarding the gold rate trend in India or any other market.