Perspective on 'MCX Gold crossing Rs. 1 Lakh mark and outlook' by Mr. Colin Shah, MD, Kama Jewelry
Below the Perspective on 'MCX Gold crossing Rs. 1 Lakh mark and outlook' by Mr. Colin Shah, MD, Kama Jewelry
"The gold prices in India hitting an all-time-high is on the much-expected lines given the latest development in international geopolitical tensions, and weakening of the INR. The uncertainties drive up the demand of gold as a safe investment haven as compared to other asset classes. The price trend is going to face some resistance which will keep it below 1 lakh in the short-term.
However, prices may see some correction due to bouts of volatility. We anticipate prices to hover in the range of Rs. 1,00,200 - 1,00,500 on MCX, subject to international economic influences."
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