Gold

Furthermore, incorporating gold into an investment portfolio can diversify risk and reduce overall financial vulnerability. Unlike assets such as stocks and bonds, gold prices are not directly influenced by market fluctuations, providing a level of stability during volatile market conditions.

Breaking a three-day losing streak, spot gold prices (24 carats) in Delhi are currently trading at Rs 63,000 per 10 grams, marking a gain of Rs 250. This surge is attributed to a recovery in overseas markets, as mentioned by Saumil Gandhi, senior analyst of commodities at HDFC Securities.

Saumil Gandhi, a senior analyst of commodities at HDFC Securities, mentioned that spot gold prices (24 carats) in Delhi markets were flat at Rs 63,150/10 grams, maintaining the same level as the previous close.

Providing insights, Saumil Gandhi, senior commodities analyst at HDFC Securities, mentioned, "Gold traded slightly lower on Wednesday, with spot gold prices (24 carats) in the Delhi markets trading at Rs 63,150/10 grams, down Rs 50 against the previous close."

The anticipated rise in gold prices is attributed to a weak dollar and a decrease in US treasury yields. The dollar and yields have experienced a decline due to the expectation that the US Federal Reserve will initiate rate cuts as early as March 2024.

The rise in US rates was the factor that prevented any upside for gold or rather limited it for almost one year now despite high global inflation, the report said.

Chennai witnessed the most significant surge, with the price reaching Rs 64,530 per 10 gm for 24-carat gold during morning trade. Meanwhile, in Mumbai, Delhi, Bengaluru, and Kolkata, the price hovered around Rs 63,760 per 10 gm, marking an increase of Rs 810 from the previous day.