Gold, Silver Rate Today Live Updates: Gold, silver prices continue to climb after worst crash in over 40 years; what’s the outlook? – The Times of India
The weakening of the dollar made bullion, which is priced in the greenback, more affordable for investors using other currencies.
“For weeks, gold has been treated as a liquidity asset sold to cover volatility and margin calls elsewhere, but at current levels, it is now looking more like a value proposition for investors, which is why it’s back in favour today,” said Tim Waterer, chief market analyst at KCM Trade.
“However, hawkish central banks wary of persistent oil-driven inflation, continue to act as a heavy lid on gold’s ambitions to the upside, keeping any rally firmly in check.”
