GOLD DEMAND INCREASES AT TIMES OF CRISIS

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The yellow metal has reached nearby the peak level of around 1745 mark which is nearly 7 year high level.   Due to current pandemic situation gold is trading strongly whereas more than 60% of traders are in selling position.  

It is accepted fact that the gold is well known for safe to trade since it’s movement are range bound, thus it is also called safe heaven and considering this aspect it is normally assumed that it may move down to 1700 mark or so due excessive profit booking.  On the other side the gold is also expected to move upward about 1780 mark.  

It is also to be noted that some of the analyst at this moment are worried about inflation and deflation concern which is the main cause of concern among investor intending to buy more safe investments.  Apart from the other aspects few things are to noted that the global geopolitical situation particularly between USA and China playing vital role in increasing the demand of gold.   It is also noted worldwide that performance of gold during the times of crisis becomes important to have safe investment.

Also World Gold Council is out with its survey on gold reserves for 2020 by Central Bank recommend to increase over the period of 12 months.

All this factors will boost the buying of gold and is expected to move in upward direction around 1800 mark this week.


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