Perspective on on gold price correction and near-term outlook by Mr. Colin Shah, MD, Kama Jewelry
Below the Perspective on gold price correction and near-term outlook by Mr. Colin Shah, MD. Kama Jewelry
“The week kicked off with gold under pressure, witnessing a sharp correction of nearly 2% on the MCX, influenced by aggressive profit-taking and soft global cues. While short-term technical selling is dominating the current price trajectory, this pullback can be actually treated as a healthy consolidation rather than a structural downturn.
Domestically, this correction in prices serves as a timely catalyst as the festive season has already started and the wedding buying season is fast approaching too. This dip will serve as a lucrative opportunity for consumers, enabling them to make the most of the moment given the volatility in price momentum. For retailers too, this serves as an attractive entry point to accelerate inventory restocking.
Internationally, the ease in bullion rates comes as a marginal relief for manufacturers, coupled with lower input costs that enhance price competitiveness in key overseas corridors like the US and GCC, giving the much-needed boost for a steady pre-holiday order fulfilment. Overall, it remains vital to remain watchful of the headwinds and make real-time decisions at both a customer and business level.”
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