Perspective on Gold hitting Rs 49,000 level by Nish Bhatt, Millwood Kane International
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Below is perspective on Gold hitting Rs 49,000 level By Nish Bhatt, Founder & CEO, Millwood Kane International
“ Gold prices have been steadily rising in the past few sessions tracking international gold futures prices. The rally in the yellow metal continued past Rs 49,000/10gm earlier today to make a 4-month high.
The rise in the yellow metal has been on account of the fall in US Treasury yields, softer US dollar which pushes up the gold prices. The commentary by the US Fed on rising inflation has also helped gold prices. The dollar index is currently over a 4-month low. The current scenario combined with the rising number of cases due to the second wave will lead to investors turning to a safe haven and help further rally in gold prices.”
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