This year gold rate has touched a strong floor irrespective of all the uncertainties.
There were so many issues like trade war between China and US, excess liquidity, COVID-19 relief bill, lower bond yields and impact of the pandemic.
There was a lot of talking about who will the election and now finally Joe Biden has won the election.
Now everyone is looking forward for his next step regarding the economy and the COVID relief bill.
Central banks have been all-in to support the economy which is going through a very rough patch.
Central banks have also said that they can do their best to support the economy in these difficult times.
The demand for metals like gold and silver increase very much during the last months because of all the festivals and weddings.
Jewellers have reportedly stocked up inventory to satisfy festive and wedding demand need.
There was very much variation in the prices of gold as there were so many uncertainties and then there was the US presidential elections.
It will be very much important to define gold’s short to medium-term trajectory.
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