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Published : Tuesday, 18 August, 2015 11:00 PM
MBA aspirants must be updated with General Awareness on current affairs. General Awareness topics with analytically drawn conclusions will benefit you in XAT, IIFT, NMAT, SNAP ,CMAT, MAT, and later in Post exams screening Tests like WAT, GD & PI , Essay writing , Extempore Speech..
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After reaching an all-time high of INR32,460 per 10 gram on November 26, 2012, the gold prices in India have witnessed a continuous decline. In the last few months, the decline has been much steeper and currently it is trading near INR25,000, the lowest in the past four years. India, which was the largest gold consuming country in the world till the year 2014,became the second after China in the first quarter of the current fiscal year and China gained the top slot.
There are several domestic and global factors responsible behind the fall in consumption as well as prices of gold in India some of which are as under –
Experts believe that bearish trend in the prices of gold would continue in the current fiscal where it can fall up to INR20,500 per 10 grams in India by March 2016 if US Federal Reserve goes ahead with interest rate cuts. Anticipating the interest rate hike, most central banks in the world are buying dollars instead of gold to counter the dollar outflow. This trend is likely to continue in the near future. Though occasional rise in prices cannot be ruled out due to rise in demand like during the marriage season in India, but broadly, the prices will remain moderate in the wake of low inflation, strengthening dollar possible interest rate cuts.
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