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Gold is linked to the US dollar. If the US currency goes down, gold prices go up in $ terms. The $ is expected to weaken because the Federal Reserve has signalled it will cut interest rates this year
The oldest class of assets — precious metals such as gold, silver, and platinum — has been among the better performers of 2024. Gold, in particular, is up 11 per cent since January. It has been hitting record highs and commodity traders expect it to keep going up.
That is 11 per cent, in terms of United States dollar values. In rupee terms, the returns are higher, since the Indian currency has lost ground against the dollar.
Gold is not only one of the oldest known assets; though it is among the more unusual. It is near useless in industrial terms, with
First Published: Apr 09 2024 | 10:34 PM IST