Daily News
Gold likely to remain volatile in near term; range to be around $1,350/oz: CARE Ratings
Mumbai: Traditionally, gold is viewed as a safe-haven by stakeholders who seek to preserve their purchasing power during rising inflation or as a hedge against market volatility. Gold prices are typically influenced by monetary policy announcements, economic data, strength of the US dollar, supply & demand, inflation, currency movements, activity of ETFs, and jewellery demand.
Gold prices have remained volatile for the last year (FY18) and have moved in a narrow band (up 2.5% and down 1.5%), with a high of $1,358.46 and a low of $1,212.46. Gold prices increased from $1,253.5 at the beginning of April 2017 to close at $1,325.48 at the close of March 2018, an increase of 5.7%.
However, despite these changes, volatility in FY18 actually reduced to 10% from 14% in FY17. With the recent words being exchanged between US and China on tariffs, import sanctions and unrest in the Middle East, there has been an increased volatility bringing renewed interest in the yellow metal.
News: Moneycontrol.com
Image: Zee business
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