₹50,200 per 10 gram, recovering from below ₹48,000 levels hit last month. For the next year, Axis Securities has a neutral stance on gold.
Despite correcting significantly from its August highs of ₹56,200, gold prices on track to finish this year with strong gains of about 25% in India, buoyed by global rally amid unprecedented monetary and fiscal stimulus announced this year to combat the impact of coronavirus.
A sliding dollar index has also helped support gold at lower levels. "Gold suddenly lost its momentum due to ‘Risk on’ trade in the global market amid positive development on vaccine front.
Equity markets hit a fresh high in the month of November on account of relief from an uncertainty of the US elections and vaccination news..