Gold prices stumble after consecutive weeks of decline..!?

Sowmiya Sriram
Gold prices stumble after consecutive weeks of decline..!?
Gold prices ended higher this weekend after falling for the past four weeks. This has led to expectations for the coming week that the US dollar will depreciate from a 20-year high. It is also expected to be in favor of gold prices. And amid the prevailing crisis internationally, the economy is expected to see a decline. Meanwhile, international stock markets continue to decline. It is expected that this will be a haven for gold.
Meanwhile, vipul Srivastava, an analyst at Religare Broking on the price of gold in the medium term, said the value of the dollar could play a major role in gold prices. This will be one of the key factors determining the price of gold in the coming week. It may be at the level of 105 - 103 in the coming week. If this puts further pressure on the dollar, it could have an impact on gold prices.
The Federal Reserve will increase the interest rates. Data on US GDP is also a key factor. On May 26 it will be announced. So if the GDP growth rate is lower than expected, it may favor gold. So this too may be a major factor in the price of gold. The US Federal Reserve meeting is expected to announce announcements of another 50 basis points increase. So this too can play an important role in the price of gold.
The indian rupee has touched an all-time low against the dollar this week. So this too can have an impact on the price of gold. This may also be reflected in the price of gold in the coming week. This may have an impact on domestic demand.
The continuing rise in fuel prices has caused concern. It has also raised fears that it could lead to a series of inflation peaks again. Meanwhile, the price of gold, which is the best hedging against inflation, may echo. lockdown operation is currently facilitated in China. This may encourage further demand.
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