Gold Buying Expected By China and Russia

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gsr-gold-symbolGold Silver Reports – For 2016, the pace of rate hike in the U.S will decide the fate of yellow metal’s prices. Also, a rebound in oil prices is expected to underpin gold going forward.

Russia has been boosting its gold additions, to diversify its reserves, as the country is facing headwinds due to lower oil and gas prices. Robust gold buying expected by China and Russia may support gold prices while monetary policy stance taken by the Eurozone, Japan and China may hold the key for gold prices in long term.

It will be interesting to see Indian gold demand in years to come after government’s recent schemes that have been launched to curb yellow metal’s demand. The schemes so far evoked only a muted response. Prime Minister Narendra Modi should work on this area.

2015 offered a bumpy ride for bullion (Gold, Silver) prices. The highlight of the year has been the interest rate hike by the US Fed after nearly a decade. – Neal Bhai Reports