Wondering
where gold prices are
headed to? In the past many weeks, gold prices have been stuck in a narrow
range. In the international market, gold prices have been in the range of
$1,290 to $1,350 per ounce since April. Domestic gold prices have also
displayed a similar trend. Gold
prices in Delhi have been around Rs. 32,000 per 10 grams (24 carat) during this
period. Are gold prices expected to break the current trend anytime soon? NDTV
here brings to you what experts think about the current trend in gold
prices. (Also read: Physical Gold, Gold ETFs Or Gold Bonds: Where
To Invest Your Money?)
Here are five factors affecting the current gold price:
Here are five factors affecting the current gold price:
. The Reserve Bank of India (RBI) has hiked the
repo rate - the key interest rate - for the first time in more than four and a
half years. In its latest monetary policy statement, the RBI pointed out
selling pressure on gold prices due to strength in the dollar.
2. The Federal Reserve, the American central bank, changed its tone to hawkish - announcing a much-awaited rate hike and two additional rate hikes this year than anticipated earlier.
2. The Federal Reserve, the American central bank, changed its tone to hawkish - announcing a much-awaited rate hike and two additional rate hikes this year than anticipated earlier.
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