The price of gold has been rising unabated. It has soared to more than Rs 73,000 per 10 gm in 2024 from Rs 31,000 in early 2018. Is the rally sustainable or is this a bubble? - Issue Date: May 12, 2024
Deveya Gaglani, Research Analyst - Commodities, Axis Securities, said, "Gold prices ventured into unchartered territory above the Rs 70,000 level for the first time in history. Prices made a new lifetime high of Rs 70699 after the NFP data print from the USA."
It extended losses from the previous week as a mix of strong labour market data and hawkish Federal Reserve signals saw markets dial back expectations of early interest rate cuts