Gold prices in India slipped below Rs 46,000-mark on Tuesday and are now trading Rs 10,000 lower from record levels. Should you grab the opportunity to buy the yellow metal or wait for further dips? Tapan Patel, Senior Analyst Commodities HDFC Securities speaks to Sakshi Batra to share an outlook on gold prices and key investment strategies for investors.
Gold has seen negative returns in 2021 losing more than 8%. The reopening of global economic activates led investors to invest in riskier assets. The large-scale vaccination also played a crucial role in improving investment sentiment in equities.
Patel said that the early fed tapering of bond purchases may pressure gold prices in the near term. Due to US Fed policy changes, he states that we can expect limited gains till Diwali. By the year-end the expected price of gold per 10gm would be in Rs 48,500 range.
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