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Ashwini Agarwal says “booms and busts all produce extraordinary gains and extraordinary losses and this is part and parcel of it. I do not think it damages the underlying story for India or the global sentiment on India in any way. That is how I look at it. So it is not such a big deal in my personal opinion.”
The outlook for gold is starting to become more bearish from a fundamental standpoint, as the resilience of the U.S. economy could induce the Federal Reserve to continue raising rates later this year.
Gold prices fell on Friday, weighed by rising U.S. Treasury yields as strong U.S. labor market data bolstered the case for higher-for-longer interest rates.
Gold prices advanced on Wednesday, but gains were limited, with traders reluctant to take large directional positions ahead of the May U.S jobs report
S&P 500 continues to be driven by the AI frenzy, with traders ignoring macroeconomic data and political developments in Washington