Perspective on gold price hitting a 10-week high by Mr. Colin Shah, MD. Kama Jewelry
Below the Perspective on gold price hitting a 10-week high by Mr. Colin Shah, MD. Kama Jewelry
“The rally in gold prices to a 10-week high reflects the bullish side of the yellow metal, which has remained pent up for the longest of times due to geopolitical tensions. Although conservatively, buyers’ affinity for gold as a safe haven, along with aggressive buying by global central banks and fluctuations in the USD, are acting as primary catalysts influencing the price trajectory.
On a mid- to long-term basis, we expect gold prices to maintain their upward trajectory backed by structural support at higher base levels, interrupted by short-term volatility based on central bank policy and real-time developments in the global economy. Domestically, as India is all set to welcome the festive season, elevated prices are prompting consumers to shift towards lightweight jewellery. On the other hand, the investors’ community will be eyeing physical gold, although not in traditionally high volumes, and ETFs, thus sustaining positive momentum across the sector.”
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