Expressing prices on Correction in gold prices Colin Shah, MD, Kama Jewelry said that, Gold prices are down over 7% from the peak in global markets and over 3% in domestic markets. This will relieve buyers in India. We are amid a wedding season, and gold buying is key to wedding celebrations.
Gold prices are falling largely due to the rising inflation in the US that has dimmed hopes of a rate cut by the US Fed. Gold prices tend to rise in a low interest rate regime, hopes of a rate cut fading and a rising US Dollar is keeping prices lower. The rising US Dollar makes buying gold more expensive, thereby impacting demand.
The fall in the price of gold in India has put it on par with key global markets. The prices in key Middle-East countries are elevated due to the rising geopolitical tensions between Israel, Palestine, Iran, and Ukraine, Russia.
Gold prices are expected to trade at current levels in the short to medium term. Prices will eventually recover to their recent highs as geopolitical tensions fade, and interest rates are softened by the US Fed and the RBI in the first half of CY25.
Offical Facebook account of heerazhaveraat.com, homepage for Trade News, Articles and Promotion of D
Heera Zhaveraat (HZ International) A Diamond, Watch and Jewellery Trade Promotion Magazine provide dealers and manufactures with the key analytical information they need to succeed in the luxury industry. Pricing, availability and market information in the Magazine provides a critical edge.
