Upcoming Wedding Season To Push Gold Prices Higher

by Marie Rodriguez

Trade anxiety among the USA and China, uncertainty around Brexit, and slowdown worries have prompted buyers globally to look for secure investments, considered one of which has traditionally been gold. Against this backdrop, professionals say that gold charges in India are set to gain in addition before the coming wedding season.

Upcoming Wedding Season To Push Gold Prices Higher 3

“The recent revision of the worldwide growth forecast to 3.5 according to the cent, from 3.7 percent, through IMF similarly made traders watch out for the yellow steel and different danger investment belongings. With the wedding season entering the picture, physical call for the metallic shall preserve the prices up,” stated Vinod Jayakumar of Karvy Commodities. For consumers in India, gold as an asset class is generally from an intake attitude instead of returns, Prathamesh Mallya of Angel Broking informed IANS.

While the election may be a reason for uncertainty, Mr. Mallya stated that neither gold intake in India, nor the outlook closer to gold from a prices angle, is impacted through any alternate in government. Other predominant elements that have pushed the fees higher are international slowdown concerns and the dollar-rupee equation.

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