Quote on Akshaya Tritiya : From Last Akshaya Tritiya to date the yellow metal has given 18 - 20% returns on MCX Says Naveen Mathur, Anand Rathi Shares and Stock Brokers
Below The Quote on Akshaya Tritiya By Naveen Mathur, Director Commodities and Currencies, Anand Rathi Shares and Stock Brokers
“From Last Akshaya Tritiya to date the yellow metal has given 18 - 20% returns on MCX. Recessionary fears, Central Bank buying & Dollar weakness are the major factors that could enhance returns till next Akshaya tritiya, whereas gold is still expected to average in the range of Rs. 59,000 – 60,000 / 10 gm over & above Rs. 51,058 / 10 gm average on MCX seen in 2022 providing 16 -20 % returns amid its safe haven appeal. Meanwhile expectations remain for Gold to trade in the range of $ 1870 - 2190 on Comex (CMP $1985/ounce) for 2023. On MCX we might expect prices to remain volatile over the remaining period as may likely test Rs. 64,500 – 65,000 per 10 gm on the higher side in futures contract ahead of next Akshaya Tritiya.”
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