Gold prices have witnessed highs in the recent past Says Mr. Colin Shah, MD, Kama Jewelry
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Below Perspective On Gold Demand During Akshaya Tritiya By Mr. Colin Shah, MD, Kama Jewelry
After a dull-performance during the two years of pandemic, the sheen is back to the gold industry. Gold prices have witnessed highs in the recent past. Traditionally, Indian households have showcased strong appetite when it comes to buying gold. The marginal rise in current domestic gold demand is expected to be driven by the festive fervour of Akshaya Tritiya. However, overall during this year consumers are expected to be more cautious with their purchases due to the backdrop of rising gold prices and economic uncertainty, whereas the investors class will bank on the highly probable opportunity of rising gold prices in the time to come.
A robust rabi crop will most likely ease the pressure on inflation. A steep rate hike will hurt growth. Today's move also raises hope of a rate ease cycle to start as early as the October-December quarter.”
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