SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 15 Apr, 2019  

Gold.9.Thmb.jpg Upcoming wedding season to boost gold prices further

Gold.9.jpg
   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
SME Times News Bureau | 15 Apr, 2019
Trade tension between the US and China, uncertainty around Brexit and slowdown concerns have prompted investors globally to look for safe investments, one of which has traditionally been gold.

In this backdrop, experts say that gold prices in India are set to gain further, ahead of the upcoming wedding season.

"The recent revision of the global growth forecast to 3.5 per cent, from 3.7 per cent, by IMF further made investors watch out for the yellow metal and other risk investment assets. With the wedding season coming into the picture, physical demand for the metal shall keep the prices up," said Vinod Jayakumar of Karvy Commodities.

For consumers in India, gold as an asset class is normally from a consumption perspective rather than from returns, Prathamesh Mallya of Angel Broking told IANS.

While election may be a cause of uncertainty, Mallya said that neither gold consumption in India, nor the outlook towards gold from a prices perspective, is impacted by any change in government.

Other major factors that have pushed the prices higher in the past are global slowdown concerns and the dollar-rupee equation.

Economic indicators are already signaling a slowdown, which may worsen due to the uncertainty around Brexit.

"Gold prices are already gaining momentum with these kinds of issues and have seen a very strong start in 2019, so far," said Vandana Bharti of SMC Global Securities.

"Recently, the rally in gold was majorly fueled by the investment demand though we saw the trend has changed and the traditional physical buying has again come in demand."

Moreover, inflows into global gold exchange-traded funds ( ETFs) are picking up gradually and may give further boost to the prices, Bharti added.

Experts also said the prime factor behind the surge in gold prices was the dovish outlook of the US Federal Reserve.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
PM Modi's recent US visit to redefine India-US bilateral relations
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter