International gold prices hovered around the US$4,000-per-ounce level in early Asian trading on Monday. Spot gold was reported near US$3,994.88 per ounce, while US gold futures also traded around the psychologically important threshold.
Higher oil prices are reviving concerns about inflation and the possibility that interest rates could remain elevated for longer. Because gold does not generate interest income, higher interest-rate expectations can reduce its relative appeal. Indian retail prices also depend on currency movements, import duties and local charges, so international prices do not directly represent the final price paid by buyers in India.
Leave A Comment