Mr. Colin Shah, MD, Kama Jewelry
The US Fed hiking rates by 25 bps were on expected lines, the street is expecting one more hike from here on. As inflation is showing signs of control an impending fear of recession will limit Fed’s ability to hike rates further. We may expect an easing of policy rates by next year. The expectation of policy easing has led to a fall in the dollar index and thereby strength to the yellow metal. The rally in the past couple of days is expected to continue albeit at a slower pace.
Globally, the prices are expected to touch the $2000/oz level. Domestically, the rate may touch its previous high of over 62,000/10gm. The movement of the yellow metal will largely be guided by the economic data in the west, and the magnitude of the recession in the US.
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