‘Neutral’ Stance By US Fed Major Factor For Gold Rally: PR Somasundaram, WGC
  • WebDesk BTVI
  • Jul 15 2019

PR Somasundaram, Managing Director-India at World Gold Council (WGC), said a neutral stance by the US Federal Reserve is the major factor behind rally in international gold prices, which in turn has led to rally in domestic gold prices as well. Gold prices have risen 13-14 per cent in the last few weeks, and Somasundaram expects prices to be steady given upcoming festival season. He said demand for gold continue to be robust from China and India, the two biggest consumers.