Diwali 2019 gold price PREDICTION: See at what price you may have to buy gold coin this Dhanteras!

Diwali 2019 gold price prediction: Yellow metal may show Rs 40,000 per 10 grams! In global markets it is expected to show $1560-$1580 per ounce.

Diwali 2019 gold price prediction: Dovish stance by Fed Chief on interest rate cut, escalating Sino-US trade war, nosediving bond yield in the US markets would be major triggers. Photo: Reuters

Diwali 2019 gold price prediction: You will have to pay through your nose if you want to buy gold on Dhanteras this time. The gold rates in the commodity exchanges have been scaling new highs and climbed to its all-time high in a recent fortnight. If we go by the commodity experts' view, dovish stance by US Fed chief on the interest rate cut, escalating Sino-US trade war, nosediving bond yield in the US markets are some of the major triggers for such a rise in gold prices. Experts are of the opinion that by Diwali, gold prices in India are expected to show Rs 40,000 per 10 grams! In global commodity markets, gold prices are expected to show $1560-$1580 per ounce by Diwali.

Pointing out the major triggers that would push the gold prices till Diwali 2019 Anuj Gupta, Deputy Vice President — Currency and Commodities at Angel Broking said, "Negative bond yield in the US markets in last ten years, dovish stance of the US Fed chief in regard to the interest rate cut and escalating China-US trade war are some major triggers that are expected to continue till Diwali." Gupta went on to add that stagnating US inflation would also lead to rising in the gold price as controlled inflation in the US would force Fed chief further to cut down the interest rates.

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On gold prices that we can see in Diwali 2019, Anuj Gupta said, "I am bullish about the gold price till Diwali and the yellow precious metal may show Rs 39,000 to Rs 40,000 per 10 gms by the festival of lights."

Predicting the gold price till diwali 2019 Amit Sajeja, Analyst at Motilal Oswal Commodities said, "The gold price in domestic markets by Diwali 2019 is expected to show around Rs 39,000 per 10 gms to Rs 40,000 per 10 gms while in international markets, the yellow metal is poised to show $1,560 to $1,580 per ounce." He said that US inflation, Fed stance on interest rate cut and long-term US bond yield is going to play its role in coming few months and hence gold price rally is expected to continue till Diwali 2019.

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