Gold prices 📈📈
#GOLD prices are approaching a four-month high as investors anticipate another rate hike. On December 13-14, the US Federal Reserve is expected to raise interest rates by another 50 basis points.
Sharp move in the past last month:
Gold prices in India rose by over 6% to Rs. 53,854 per 10 gram from Rs. 50,691 per 10 grams in November. Similar growth was seen internationally as the prices rose by over 7% in the last month.
Analysts are still bullish on the gold prices as they are confident that the continued rate hikes would cause a portfolio shift (from Equity to Gold, Bonds, etc).
