"Lots of If's and But's for gold" by Mr. Prithviraj Kothari, MD,RSBL
Last year it was Syria…This year it’s Ukraine. Geopolitical tensions have always been a booster for gold and other precious metals and it has helped gold in enjoying its safe haven appeal as it always does in times of economic turmoil recession, inflation etc.
This week gold remained on the top and showed some interesting record movements too.
Gold prices bounced on Friday during the trading hours, rising 3.3 per cent from last week’s close at 1385$ per ounce, a level not witnessed since early September. Gold sailed through US$1,380 and was on course for a sixth successive week of gains as the situation in Ukraine showed no signs of easing.
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