Gold prices to hit new high in current scenario? What will drive this safe haven ahead3 min read 29 Mar 2023, 03:02 PM IST
Expert believes that the possibility of gold hitting a new high cannot be entirely ruled out as extreme speculation is at place, but, fundamentally, it appears value investors would prefer to stay away and wait for prices to stabilise.
Gold prices plunged on Wednesday as easing in contagion worries in the banking system sparked bets for riskier assets and hence recorded low demand. At MCX, gold futures traded marginally lower and below ₹59,600. However, there is a high probability for gold to hit a new all-time high in the current run. There is a host of driving factors for this safe haven!
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