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Below the Quote on Perspective on `Gold price reaction amid US Elections results` by Mr. Colin Shah, MD, Kama Jewelry

“A victory for Donald Trump in the US Presidential election has led to a spike in USD, and that is having a negative impact on gold prices. Gold prices have hit a lower level of 2710 in the day's trade. Prices are volatile as the street awaits the Fed outcome on Thursday, another key event guiding gold prices.

 We expect gold to trade in a narrow range or sideways till the new President outlines his key policies. In the long term (Above 12 months) we expect gold to regain past high levels and make new highs. Geopolitical tensions will keep gold in demand, pushing prices up. In the long term, gold prices will touch $3000 global market, and Rs 86,000 in the domestic markets.”

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