“The Fed seems set to hike regardless of whether inflation rises to their target in the near term. Gold has behaved sharply on account of the same. It is coupled with higher US real rates, tax reform and infrastructure. On the whole, geopolitical risks have also subsided. Safe heaven trade seems to have subsided for now.” Shekhar Bhandari, Senior Vice-President & Business Head, Precious Metals, Kotak Bank.
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