News
oi-Kuntala Sarkar
Gold rates in the Indian markets are falling again, although international gold rates are on the verge of surging. The IBJA is keeping the gold rates moderate in the country, to boost the gold demand. During the last wedding season, demands for gold jewelleries gained sharply.
Due to US inflation and Russia – Ukraine tensions gold prices are surging. The yellow metal is considered as a hedge against inflation, which is at the 40 years high range now in the USA. On the other hand, Russia – Ukraine geopolitical tensions are dominating the present political situation. Gold is also a safe haven against uncertainties, and the metal is proving its strength with a sudden price surge.
Commenting on the present trend, Gary Wagner, editor of TheGoldForecast.com. Told Kitco News in an interview, “We had multiple days in the last couple of weeks in which we saw safe-haven plays into the dollar and gold concurrently. So while it would pressure gold, it would hold back the rise but [would not] necessarily be so strong that gold moves gold with that adversity,” he said. “I think that dollar strength and gold can move in tandem during that kind of a conflict, in the same way that U.S. equities and gold move in tandem when you have a highly accommodative Federal Reserve.”
Hence, you can buy gold…
