Rising Tide: Gold Prices Ascend.!
The outlook for gold prices appears bullish in the coming days, with expectations of continued increases driven by strong international signals and robust demand. In Delhi's bullion market, gold has already reached Rs 67,350 per 10 grams, and experts predict that it may soon surpass Rs 69,000.
Colin Shah, Managing director of Cama Jewellery, highlights the positive rally in gold prices, driven by past and projected inflation data as well as signals of potential interest rate cuts by the Federal Reserve. He suggests that once the latest inflation data is announced, gold prices are likely to rise further.
Shah underscores gold's status as a safe investment asset, particularly in the data-face of inflation, with investors hedging against inflationary pressures by investing in gold. The direction of interest rate cuts by the Federal Reserve, following the announcement of US inflation rate data, will significantly impact gold prices. If interest rates are reduced in the US, gold prices may climb even higher, potentially reaching Rs 70,000 per 10 grams.
Colin Shah, Managing director of Cama Jewellery, highlights the positive rally in gold prices, driven by past and projected inflation data as well as signals of potential interest rate cuts by the Federal Reserve. He suggests that once the latest inflation data is announced, gold prices are likely to rise further.
Shah underscores gold's status as a safe investment asset, particularly in the data-face of inflation, with investors hedging against inflationary pressures by investing in gold. The direction of interest rate cuts by the Federal Reserve, following the announcement of US inflation rate data, will significantly impact gold prices. If interest rates are reduced in the US, gold prices may climb even higher, potentially reaching Rs 70,000 per 10 grams.