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Dhanteras 2023: Investment demand could drive gold prices up from current levels

Dhanteras 2023: Investment demand could drive gold prices up from current levels

Gold has given a return of 10.2 per cent compounded annually over the past two years. This has happened despite adverse macroeconomic developments, like the US Federal Reserve hiking interest rates by 525 basis points and the dollar index rising by about 13%. Vikram Dhawan, Fund Manager-Commodities at Nippon India Mutual Fund, in an interview with Sanjay Kumar Singh, Associate Editor, Business Standard, says that what has caused gold prices to move up is heavy buying by central banks as they look to diversify their assets beyond the US dollar. He adds that if there is a material slowdown in the near future, then investment demand could gather pace. Watch this interview to learn about gold’s prospects and the instruments you should invest in this Dhanteras.

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