Quote on Gold by Rajeev Sharan, Head of Research, Brickwork Ratings
Below the Quote on Gold by Rajeev Sharan, Head of Research, Brickwork Ratings
"Gold is entering the festive season near record levels, with 24-carat gold trading around INR 1.48 lakh per 10 grams after a brief correction and a renewed uptick. The price outlook stays firm. Safe-haven buying amid geopolitical tension, sticky inflation and steady central bank purchases continue to support the metal, even as the Fed's recent hike and a stronger dollar may cap sharp gains.
Demand dynamics, however, are becoming more nuanced. Gold prices have risen significantly from levels of around INR 1.1 lakh per 10 grams a year ago. Festive and wedding buying, from Dussehra, Dhanteras and Diwali through the winter weddings, should keep demand healthy in value terms. That said, the record prices may moderate jewellery volumes, with many buyers opting for lighter pieces or leaning towards coins and digital gold. Overall, we expect firm but range-bound prices through the festive months, supported by seasonal buying, though any further sharp rise could dampen volumes."
"Gold is entering the festive season near record levels, with 24-carat gold trading around INR 1.48 lakh per 10 grams after a brief correction and a renewed uptick. The price outlook stays firm. Safe-haven buying amid geopolitical tension, sticky inflation and steady central bank purchases continue to support the metal, even as the Fed's recent hike and a stronger dollar may cap sharp gains.
Demand dynamics, however, are becoming more nuanced. Gold prices have risen significantly from levels of around INR 1.1 lakh per 10 grams a year ago. Festive and wedding buying, from Dussehra, Dhanteras and Diwali through the winter weddings, should keep demand healthy in value terms. That said, the record prices may moderate jewellery volumes, with many buyers opting for lighter pieces or leaning towards coins and digital gold. Overall, we expect firm but range-bound prices through the festive months, supported by seasonal buying, though any further sharp rise could dampen volumes."
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