Will Gold bounce back this week?

Gold Price Forecast

Will Gold bounce back this week? : Gold prices have recently corrected from their alltime high level of Rs 56,200 per 10 gram to Rs 47,500 per 10 gram. However, the prices bounced back to Rs 49,000 per 10 gram level as the USdollar touched a 2.5-year low, backed by hopes over US Covid19 stimulus aid. Backed by positivity on vaccines, a raging bullmarket in equities is also putting pressure on the yellow metal.

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Copper and silver to Outperform Gold in 2021

Copper Prices

Commodities witnessed an interesting end to a decade in 2020, which was for the most part unfriendly for the resourcessector. Investors brace for a new commodity supercycle in 2021 as globaleconomic recovery and reflation trades are set to play out strong. Industrial metals such as copper and silver are likely to outshine gold and crude oil prices.

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Copper Prices CMCU3 Have Extended Their Sharp Recovery

Copper Prices

Copper prices CMCU3 have extended their sharp recovery last week from the March lockdown lows of $4,371 to $7,973.5 a tonne, the highest since February 2013, buoyed by China’s solid demand and hefty investments by speculators amid monetary policy easing. views the current prices do not reflect fundamentals and the rally has been overdone.

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