Articles
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Factors Affecting GOLD Prices in 2017
Going past the revolutionary Indian Budget 2017 where I did find some key government initiatives Budget like capping the maximum cash donation to INR 2000, steps to avoid money laundering etc are noteworthy, I did feel that Bullion Trade reforms that were the key to the survival of industry did not come through.
Gold is hovering around the psychological mark of US $1,250 and is a direct beneficiary of US dollar weakening. Above which, Gold can reach to a high of $1300 with a range in INR of 28000 to 31000. I wouldn’t ignore the fact that US economy has shown resilience in the recent months causing the Dollar to strengthen but Gold hasn’t lost its shine completely. To support this statement, Total global holdings are above 57 mio oz the highest point of the year.
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