Uncertainty will continue to drive precious metals higher: Angel Broking

Views of Mr. Prathamesh Mallya (Chief Analyst- Non-Agri Commodities & Currencies, Angel Commodities Broking):

"Gold prices have been falling in the past week from a high of around $1296 mark to $1270 trading at present, while on the MCX, prices have corrected from the highs of Rs.29500 to Rs.29000 per 10 gms at present. The outcome of the French elections has cooled down the rally in the precious metals including silver.

We do see that the risk and the uncertainty with regards to the second round of French Elections and the snap election in UK in June will further lead investors to move towards safe haven asset. Comex gold can move higher towards $1300 in the near term, while MCX gold prices can move higher towards Rs.29500 in the near term."

Source : Equity Bulls

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