Gold, Rupee and Equity Markets Outlook II Explained by ICICI Securities
Gold prices started Wednesday’s trade on a strong note by opening higher with a gap and prices rose further for most of the session till high of Rs 49640. Prices have bounced strongly in the last session as the dollar weakened on U.S. Treasury secretary nominee Janet Yellen's call to "act big" on measures to help the U.S. economy recover from the impact of the pandemic. Therefore, ICICI Securities expect Gold prices to rise further towards Rs 49900 level in the short term.
ICICI Securities expects index to endure its northbound journey and eventually head towards 14900 by the end of January: Reuters