Amid the current banking crisis in the US, it is still unclear if the Fed will bite the bullet and increase interest rates on Wednesday, but a hawkish commentary and rate hike could lead to near term softening in the price.
Meanwhile, Jateen Trivedi, Vice President, Research Analyst at LKP Securities also sees some softening in the rates, going ahead. “A higher hike than 25 bps with hawkish speech shall bring Comex Gold back to $1,940 odd levels and Rs 57,000 in MCX, which shall again ac ..
“We expect further potential upside and maintain our bullish outlook for gold,” HDFC Securities’ Gandhi said while advising a buy on dips strategy instead of taking positions at current highs.
