Perspective on Gold hitting more than one month high By Navneet Damani, Motilal Oswal
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Below are Perspective on Gold hitting more than one month high By Mr. Navneet Damani, VP – Commodities Research, Motilal Oswal Financial Services
“Gold traded higher to a more than one-month peak as U.S. Treasury yields slipped despite better than expected U.S. economic data, pushing investors to bullion as a refuge against possible inflation ahead. Concerns regarding inflation is increasing ahead of massive fiscal aids and ultra-low interest rates across the globe supporting the metal. Gold prices also got a boost after the U.S. government imposed a broad array of sanctions on Russia as punishment for alleged misdeeds, including interfering in the 2020 U.S. election. after a positive retail sales and weekly jobless claims market participants will keep an eye on housing data and inflationary expectation from the U.S. scheduled later in the day. Broader range on COMEX could be between $1745- 1778 and on the domestic front prices could hover in the range of Rs 46,850- 47,450.”
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