Gold Price Outlook

On why gold price surged for second week in a row, Sugandha Sachdeva, Executive Director & Chief Strategist at Acme Investment Advisors said, “Gold prices have been on an upwards incline for the last two consecutive weeks as the dollar index has softened amid hopes that the US Fed might hit the brakes on its tightening spree next week. The surge in US jobless claims to the highest level in 1-1/2-years as per the latest data has flagged worries about the fragility of the labor market, potentially pushing the US central bank to put an end to the interest rate hike cycle.”

On other reasons that fueled gold prices last week, Nirpendra Yadav, Senior Commodity Research Analyst at Swastika Investmart said, “Gold and silver prices registered gains from lower levels in the previous week due to weak cues from major economies.”Read more:

1. Gold Price Outlook: Mojo back as economic woes weigh on China, US and Eurozone : The Economic Times
2. Gold Rate Today: Gold prices in India slip on uptick in dollar. Check the price of yellow metal in Delhi, Ahmedabad and other Indian cities: The Economic Times
3. ‍Gold price jumps for second straight week on US Fed rate-pause buzz. Buy or wait for FOMC meeting?: Mint
4. ‍Gold price jumps for second straight week on US Fed rate-pause buzz: Bharat Times
5. Gold price rises two weeks in a row amid US rate-pause speculation: Bizz Buzz

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