Gold price may increase by Diwali

Chennabasaveshwar P

Bengaluru, Oct 15: Gold is most likely to increase further up from the current price around Diwali time, according to analysts.

Prices rose early on Monday as Asian stocks eased due to concerns about a potential decline in China's economic growth amid an ongoing trade war and signs of tighter monetary policy by the US Federal Reserve, reported Reuters.

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In the backdrop of a battered bond market, volatility in the equity market and a crisis in the non-banking finance company (NBFC) sector, the yellow metal could emerge as an asset class this festive season, as per the analysis by Economic Times.

Also Read | Gold tops Rs 32,000-mark amid festive demand

In the international market, as per Bullionvalut report, gold prices on Friday closed at highest prices in 11 weeks in US Dollar terms in London, holding onto most of 2.8% jump to trade above $1223 per ounce as world stock markets bounced from their sharpest drop since February.

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