Gold hitting 7 week high perspective By Nish Bhatt, Millwood Kane International
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Below are Views On Gold hitting 7 week high perspective By Mr. Nish Bhatt, Founder & CEO, Millwood Kane International
“The rise in the number of COVID19 cases, fear of the next wave coupled with rising inflation in the US, lower yields, weak US Dollar, and the QE program by the US government has also provided strength to the gold prices. The current situation of rising cases threatens to derail the economic recovery in Q1, create uncertainties. The situation may lead to elevated gold prices in the short term till the situation stabilizes.
The retail demand in India has been rising due to festive season buying has also provided support to gold prices. A pick-up in global economic activity will lead to subdued gold prices, but the risk of the second wave, uncertainty remains which may guide gold prices in the longer term.”
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