Representative image Dhanteras marks the beginning of the festival of lights, and is an auspicious occasion for Indians that brings light and luck to their livelihood. It is also seen as a good occasion to buy Gold as traditionally it is believed that it brings fortune according to Hindu beliefs.
With prices of Gold correcting back from its August peak of Rs 56,200 per 10 grams to current levels of Rs 50,000 levels now with hopes over speedy recovery of struggling economies considering the vaccine round the corner. The Vaccine news has also helped improving investors risk appetite, and hence, the safe haven appeal diminished in the short run causing the prices to come down to current levels and can be used as a buying opportunity as there are many other medium to long term factors that will support Gold prices as we move ahead.
Some of the factors that may […]
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