Quote on the Gold Outlook from Hareesh V, Geojit Financial Services
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Below the quote on the Gold Outlook from Hareesh V, Head of Commodities at Geojit Financial Services.
"The ongoing geopolitical and economic uncertainties like higher inflation, China economic jitters, and the pandemic-related economic distortions amid the Russia – Ukraine war continue to offer support to the safe haven status of gold in the immediate run. Hopes of a demand recovery from India may also contribute to the trend. However, it is unlikely for major rallies due to uncertainties over US rate hikes and the performance of US assets.
Investors can cautiously increase their exposure to gold as prices corrected about 5 percent from their all-time highs and the key demand season is nearing, which may increase the demand and thus the price of the metal. In addition, a weak Indian Rupee also offers additional support to the yellow metal."
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