Page 8 - Bullion World Issue 6 October 2021

Bullion World | Issue 06 | October 2021

State of India

Gold Market

Gold being one of the largest financial asset in the world.
It has witnessed significant growth in recent years. During
2000, gold was priced at just $460 per ounce when
adjusted for inflation. By August 2021, that number had
inflated to roughly $1,815 per ounce. It has come a long
way. We asked an update on Gold and its current situation
and its way ahead.

What is your comment on pandemic. By seeing the GST collection
the current Gold demand? or income tax collection we can make

What is your outlook on out the economy is regaining back.
demand for the next couple
The derivatives market is also moving
of months or so?
because the banking interest rate are
Haresh Acharya: According to low and Government is giving ease
me, the Gold was moving above the
of business. Gold I feel will go low in
dollar index due to pandemic. The physical terms, it won’t go up much
range during pandemic was around because the other assets seems to be
was between US$1450 to above US$
more on the demand side and its giving
2000. After the vaccination, since the more returns if we see the stock markets.
panic amongst the people have started
diffusing so we observe here the Gold So I feel the outlook for Gold post-covid,
prices are coming down after that. the prices went near to 1500 US$, it
But after the geo-political tensions in
won’t come that much but I feel the
Afghanistan the price of Gold again prices will go around 1650-1850 US$
started to go up. All the markets are
level and it will move around this range in
seeing some sort of growth after the coming months.

Mr. Haresh Acharya
Director, Governing Council, IBJA

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