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Below the Perspective on Gold Price Outlook by Mr. Colin Shah, MD, Kama Jewelry

“Gold prices continued to gain strength last week. The rise in prices can be attributed to the heightened volatility, global uncertainties and the weak US data that has pushed gold prices further. US service-sector activity has also gone down to 2-year low, pushing the gold prices upwards.

Moving ahead, gold prices are expected to stay afloat on the back of continued global uncertainties. Trajectory of DXY and USD will be key to gold prices this week. With gold prices witnessing continuous hike, there is a possibility of near-term profit taking, however, mid to long-term bullishness momentum could be seen as well. We anticipate gold prices to scale levels of $3,000 in mid-term.”

Mr. Colin Shah, Founder and Managing Director of Kama Jewelry

Mr. Shah initiated into the diamond trade at the age of 17 with hands-on training in polished assortment, diamond manufacturing, and jewellery manufacturing. He is a first generation entrepreneur who started own business at the age of 21, exporting diamonds to Japan and Gulf along with the local market. He is a certified Gemologist from International Gemological Institute. He is Former Chairman of Gem Jewellery Export Promotion Council (GJEPC), and current member of FIEO.

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