“The US Fed kept interest rates on hold, but the commentary was dovish. Especially, the indication of rates cuts as early as next year and well after that. The only caveat being economic indicators on track.
The guidance on interest rates is a gradual but steady approach to bring core inflation within the desired range of 2%. Lower interest rates bodes well for the gold and gems and jewellery sector at large. Gold has been making new highs, expected to continue the bullish trend.
Geopolitical tensions and a slowdown in global economic growth will boost gold prices. On the domestic front, we expect the demand trajectory to remain robust. The ongoing wedding season is expected to keep demand for gold and jewellery on the higher side.”
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