“RBI’s decision to keep the repo rate unchanged at 6.50% is a welcome move which comes as per the industry expectations. With the urban consumption remaining consistently robust along with rural demand gaining momentum, this scenario will act as an enabler in boosting jewellery sales in Indian markets. However, the growing geopolitical tensions remains a concern that could impact the supply chain and put pressure on commodity prices, which will eventually hamper the exports. Further, RBI’s decision to allow resident entities to hedge price of gold in OTC segment in IFSC will help entities to safeguard themselves against the price fluctuations and the adverse currency movement.
In terms of pricing of the yellow metal, it is expected to remain volatile in the near future which will further be guided by factors like inflation trajectory, strength of the USD, geo-political scenario and any economic development in the West.”
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