Gold may lose its sheen in 2018; here's why
mcx tips for today - Gold may not retain its sheen in 2018 even though the yellow metal gained by 12 in 2017, analysts feel. Gold prices were trading at one month high on Thursday as the dollar fell to a four week low. MCX Gold futures were up 98 points, or 0.34 per cent, at Rs 29,040 per 10 gram at around 11 am.
In 2017, gold prices have gained by 12 in the international markets, while MCX gold has gained by 5.6 percent in the same time frame as rupee appreciation of 5.5 percent which capped the rally in the Indian markets( mcx tips for today ).
Gold prices have gained in 2017 despite global rising equities, positive investment sentiment for riskier assets, weak gold demand from India and China, and rising interest rate scenario in the US( commodity online tips ).
commodity calls - Moving ahead in the New Year 2018, gold prices will not have the same charm as optimism in the US housing and labour market, possibility of two more rate hike in the US, rising inflation meeting the central bank targets of around 2, and less charm in the investment demand, increasing global GDP growth as per IMF estimates are factors which will cap the rally in gold prices, said Prathamesh Mallya, chief analyst (non agri- commodities & currencies), Angel Commodities Broking Pvt Ltd.
We believe that at COMEX the highest price for gold in 2018 would be capped at $1370 while the lower side possibilities would be seen at around 1200 per ounce mark. In the Indian markets, Rs.30500 would be the cap on the higher side, while for investors who want to accumulate, Rs.26500-27000 are the right levels to accumulate gold, Mallya added.