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Published on 22/07/2020 4:24:32 PM | Source: Motilal Oswal Financial Services Ltd

Gold At All Time High By Mr. Kishore Narne, Motilal Oswal

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Below is the Views On daily gold commentary by Mr. Kishore Narne, Associate Director & Head, Commodities & Currencies, Motilal Oswal Financial Services

“We have been bullish on gold for the last couple of years and the view has played out very well, and two quarters back in Dec’19, we have revised our targets from ₹42,000/10gms to ₹65,000/10Gms in 18-24 months. We continue to maintain this target as the fundamental backdrop which has driven gold over the span of last four months which is the lower interest rates, negative rates in few economies, enormous amount of liquidity and expanded fiscal balance sheets of governments which are trying to push growth amidst Covid-19. We do expect the anaemic economic growth would cause further isolation of economies and intensify protectionist policies and further aggravate trade-war which also helped gold in the past. We expect gold to keep up the momentum with occasional corrections, and we suggest investors to use every dip to keep buying gold over medium to long term targets of ₹65,000/-”

 

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