Skyrocketing gold prices

Gold prices in India fluctuate due to international economic conditions. In July, the government reduced gold import duty, causing a drop to Rs 2,200 per pawl. However, after the US Federal Reserve cut interest rates, gold prices rose again, reaching a new high of Rs 7,161 per gram and Rs 57,920 per pound.
There is currently an economic recession in the United States. Also, since the US Federal Reserve Bank has reduced the interest rate by 0.5 percent, people are withdrawing their bank deposits from it and investing in gold. Due to this, the demand for gold has increased. Also, crude oil prices are falling. 
Also, the gold prices are increasing due to the arrival of festive and auspicious wedding  days in the country as well. A gram of gold is expected to increase to Rs 7,500 and a pound to Rs 60,000 by the end of this year.
Jewelry buyers are worried about rising gold prices. But central and state governments cannot stop the rise in gold prices in India. Public can't participate in protests demanding reduction in gold price. At the same time, the craze for gold jewelry from the people of India never wanes.
The rise in gold prices is indeed a huge burden which the poor and middle class are forced to bear..