Upcoming wedding season may boost gold prices further

Mumbai-India (April 14)  Trade tension between the US and China, uncertainty around Brexit and slowdown concerns have prompted investors globally to look for safe investments, one of which has traditionally been gold. In this backdrop, experts say that gold prices in India are set to gain further, ahead of the upcoming wedding season.

"The recent revision of the global growth forecast to 3.5 per cent, from 3.7 per cent, by IMF further made investors watch out for the yellow metal and other risk investment assets. With the wedding season coming into the picture, physical demand for the metal shall keep the prices up," said Vinod Jayakumar of Karvy Commodities.

For consumers in India, gold as an asset class is normally from a consumption perspective rather than from returns, Prathamesh Mallya of Angel Broking told IANS.

While election may be a cause of uncertainty, Mallya said that neither gold consumption in India, nor the outlook towards gold from a prices perspective, is impacted by any change in government.

Mid-Daynews