Gold prices have been on an uptrend in the last few months, rising nearly 28 per cent to $2387 per ounce now. This rise in gold price, according to Christopher Wood, global head of equity strategy at Jefferies, is attributed to the demand from China amid lack of investor euphoria as regards the yellow metal.
“Recent developments show a distinct lack of investor euphoria as regards gold, the question remains what is driving the current rally. The most plausible explanation remains demand from China. Still there is a lack of concrete data to confirm such an explanation. The PBOC has bought
First Published: Apr 12 2024 | 10:12 AM IST