The
global gold prices recently observed uptick post US 2016 President Election result.
Gold is always considered as safe heaven & prices of it always go up during
Geo political tension. This time around we may observe the global gold price
fall due to Indian Prime Minister led government announcement of Demonetizing
500 & 1000 currency notes.
It
prompted black money hoarders to rush for gold buy but the government agencies
raids on those jewelers alerted the whole system. Now even jewelers in India is
also very skeptical in selling gold without taking all papers from the buyer
which was not the case earlier.
India
is world largest importer of Gold and recent crackdown by Indian Government is
going to impact the overall gold impact for many months to come. The lower
import by Indian firms will lead excess supply of gold in international gold
trading exchange & fall in gold price. It is advisable to commodity buyer
to investor investors investing in Gold & Jewelers company to keep tracking
the falling price and do not invest heavily.
Please
stay away from any future and option category.
Disclaimer:
Consult your financial advisor before investing
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