If anyone thinks that the gold prices will come down I hug them because I am also of the same view. I don't have any strong reasons to say but I believe that it will come down. Crude oil prices and Indian indices touched it's peak and then started to came down. The economic curve is like this. It often shows ups and downs.
Recently RBI has bought gold from IMF. We keep the 200 tonnes as a reserve of this country. We lost faith in dollar which is going weaker and weaker. India is the biggest consumer of gold in the global scenario. Due to the shy rocketing prices the retail participation decreased by 30-40%.
Increasing gold price hike is a ause of worry for Indian households. Dowary is considered as a crime in this country but it is very common among people. If gold price again rises so many young girls will never be married.
If investor confidence is back and the markets come back to it's green zone there will be a slight fall in glod prices. But in the recent future there is no possibility of a correction.
The Blog Moves On
7 years ago
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