Quote on gold & silver by Rajeev Sharan, Head of Research, Brickwork Ratings
Below the Quote on gold & silver by Rajeev Sharan, Head of Research, Brickwork Ratings
"The recent drop in precious metal prices shows an unexpected trend. Normally, crude oil jumping above USD 110 a barrel and rising West Asian tensions would push investors toward safe-haven assets. Instead, spot gold dipped near USD 4,118 an ounce and silver fell nearly 1% toward USD 57, while Indian MCX futures slipped to INR 1,46,041 per 10 grams for gold and INR 2,09,184 per kilogram for silver. The surge in energy costs has sparked fresh inflation concerns, strengthening the case for another rate hike. As traders brace for a tough Federal Reserve stance next week, higher bond yields and a steady dollar have raised the opportunity cost of holding non-yielding bullion. Gold is now caught between global conflict fears and high interest rates, while silver is taking a bigger hit as elevated borrowing costs also weigh on industrial demand."
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