While the fundamentals are still intact, experts feel that there may be a mild correction in gold prices after the recent spurt. Gold has seen five weeks of continuous gains and therefore, events like the upcoming US Federal Reserve meeting, G-20 meeting, etc can trigger a correction.
Gold Silver Honeymoon Period Over, Any Rise Sell Sell Sell, Buy Karna Mana Hai Gold High – 34893 / Silver High – 38323
Bullion Market has risen by about 1.7% so far this month and 1.6% for the week. “People are doing fear trade now and running towards gold,” said Michael Matousek, head trader at U.S. Global Investors. He noted investors were unsure of what Trump planned to do.
Gold prices rose on Friday, heading towards their first monthly gain since January on increased safe-haven demand, after U.S. President Donald Trump vowed to levy tariffs on all imports from Mexico, ratcheting up concerns of a global economic slowdown.
Gold prices rose 0.06 percent to Rs 31,631 per 10 gram in futures trade Tuesday as speculators built up fresh positions in domestic markets.
