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Gold rates trade around 9-month high. Buy, sell or hold?
Gold rates today: After hitting 9-month high last week, gold prices oscillated in a wide range throughout this week before settling almost on a flat note. According to commodity market experts, after hawkish narrative by US Fed officials, gold pared its last week gains but has signaled fresh upside move on the weekend trade. Speaking on recent triggers that dictated gold price in the week gone by, market expert Sugandha Sachdeva said, "As for the key data of the week, the CPI inflation rate cooled to 7.1% on an annual basis in November as against 7.7 per cent in October, which suppressed the greenback and boosted the precious metal towards the psychological ₹55,000 per 10 gm mark. Investors have chosen the dollar in place of gold this year due to continued interest rate hikes and the tight stance on monetary policy by central banks that could resume the uptrend in the US dollar index. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions. Source - Mint #goldrate
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