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A rising dollar is set to limit the return on gold investment in the near term, despite geopolitical tension rising abroad.With the US Federal Reserve expected to raise interest rates again next month, the dollar might continue to fetch better returns than other asset classes, including gold and silver, in the near term. In India, with the southwest monsoon expected to turn weaker than previously estimated for the current season, resulting in a decline in kharif crop output, India's gold demand is likely to remain slow this year.As a consequence, investors are betting for gold as a long-term investment avenue, without looking to make money in the near term. Gold's price was near its recent bottom last week but got momentous support after the US announced its monthly non-farm employment data rise at 157,000 for July, against the expectation of 190,000."Safe-haven demand which generally moves gold prices higher is not clearly visible this time, despite bigger US-China tension and ...
from Markets https://ift.tt/2OijEow
from Markets https://ift.tt/2OijEow
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