Gold has surged past $5,000 an ounce as geopolitical tensions, trade uncertainty, expectations of lower US Fed interest rates and sustained global central bank buying combine to support prices
Gold price outlook: Huge volatility and choppiness are expected to continue in gold as traders navigate the maze of data and events in the very short term
Buoyed by a dovish FOMC outcome, spot gold surged on December 11 extending its gains to the second day. At the time of writing this article, spot gold was trading with a gain of 1.3 per cent at $4282
Christopher Wood, global head of equity strategy at Jefferies expects gold prices to hit $6,600/oz going ahead, up 57 per cent from the current levels.
Gold outlook: Spot gold continues to find robust support from a confluence of macroeconomic factors, chief among them being the rapidly deteriorating fiscal landscape in major economies.
In early 1980, investors, according to Capitalmind, were inspired by the stellar returns of the 1970s. If they invested in gold back then, they would have faced two decades of negative returns.
Analysts at brokerage firm Motilal Oswal Financial Services maintain a positive long-term outlook on gold, recommending investors to "buy on dips" with a target price of ₹1,06,000
Gold dropped over 3% on Friday, after US President Donald Trump's bigger-than-expected tariff measures rippled across global markets, wiping out nearly $6 trillion in value from US stocks last week
On April 3, spot gold, buoyed by renewed safe haven demand due to unexpectedly high reciprocal tariff rates that pose a risk to the global trade and economy, soared to a fresh record high of $3,167.84
As per disclosure made by Senco Gold to stock exchange, reveals that the promoters have bought 241,400 equity shares representing 0.15 per cent holding in the company via open market.
