Fundamentals are gradually turning positive for yellow metal – Prithviraj Kothari, MD CEO of RiddhiSiddhi Bullions Limited (RSBL)
1. What is pushing the yellow metal higher?
– Fundamentals are gradually turning positive for yellow metal, as lower than US CPI print has changed FED monetary stance from hawkish to dovish which is pushing gold higher.
2. Do you think new highs are on the cards?
– When the FED will pause raising rates in 2023, safe-haven money will flow into gold. Central Bank gold demand is already strong from the last few quarters. Physical demand and gold ETF demand will follow rising prices in 2023. And technically, if prices break all physiological resistance and barriers, we might see a new high in Gold in 2023.
3. When should investors consider booking profit in gold?
– Prices have run up too much too fast in the last 15 days. We can see a small healthy correction or retracement in gold prices in coming days. Short-term traders can book profit here and buy again on dips, while long-term investors can continue to hold for higher price targets.
