Gold’s Festive Glitter

What are the reasons behind the sudden spurt in gold and silver prices? The domestic gold price is always influenced by the international price movement. The international gold price has gone up because of geo-political tensions, Covid-19 pandemic, devaluation of dollar, investors’ inflow. And, the prevailing economic uncertainties have also enhanced the safe-haven value of gold among investors. All these reasons have contributed to the rise in gold prices. On the other hand, the rebound of industrial demand has increased silver prices. How far will it go? Will it affect the retail jewellers’ demand during the festive season? It’s very difficult to predict the price movement at the moment. However, due to the prevailing economic scenario, the gold price will remain on the higher side. The gold price rise will have a short-term impact on jewellery demand. In the long...