"Historically gold has always delivered a positive monthly average return during times of hold in interest rate. Hence spot gold is expected to trade in the range of $1,900–$2,250 per ounce range in next 1 year period. Hence staggered buying in yellow metal is recommended on dips of 6–7% from current levels. There will always be good investment opportunities in gold."
The stagnating global economic growth, inflation is falling but is expected to remain above long-term historical averages, well baked equity markets and elevated currency volatility appear conducive for gold demand from investors and consumers, the report said.
Gold and silver prices are facing technical and fundamental headwinds as higher rate expectations and inflation continue to drive price action. What next for XAU and XAG?