Daijiworld Media Network - Bengaluru (SHP)
Bengaluru, Jun 21: Gold prices have reached the highest mark in the past five years. Research analysts are stating that prices will continue to surge. As of Friday, June 21, the metal in the Indian market has reached Rs 35,090 level for 10 grams as the US Fed Reserve signalled interest rate cuts for the year.
Experts on gold say that the yellow metal price will continue to rise. Bankers feel that the surge in gold prices is an indication that risks in global markets are rising. The US is heading into recession and trade wars originating from tariffs are resulting in stress on the global economy.
According to Shekhar Bhandari, vice president, precious metals at Kotak Mahindra Bank, it is likely that the Federal Reserve will act aggressively and would go for money expansion. He claims that in situation as these gold serves as insurance.