Current Gold Market Scenario - Angel Broking Ltd

Mr. Prathamesh Mallya, Chief Analyst Non-Agri Commodities and Currencies, Angel Broking Ltd.

"The world is full of uncertainty and investors pile up their portfolio with precious metals or Dollars in these times. The impact of the pandemic Coronavirus is being felt worldwide with all the asset class crashing as if there is no hope. US central bank has cut its interest rate by 1% in recent weeks in order to combat the slowdown in the global economy. However, the new cases arising out of different countries with regards to the virus is creating a dilemma in the minds of investors about the confidence in any asset class. Hence, gold is unstable.

For physical investors, there is no good or bad time to buy gold as it is based out of a desire to hold the metal while for those who want returns from the metal, buy or sell, volatility will remain. So it really depends on the risk appetite of the trader / investors who invests in gold. For the time being, uncertainty is the name of the game and gold will perform in times of uncertainty."

Source : Equity Bulls

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