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Rally in base metals in FY22 unlikely to be as strong as in FY21, says Sugandha Sachdeva of Religare Broking


Rally in base metals in FY22 unlikely to be as strong as in FY21, says Sugandha Sachdeva of Religare Broking
Sunil Matkar
© Sunil Matkar
Rally in base metals in FY22 unlikely to be as strong as in FY21, says Sugandha Sachdeva of Religare Broking
Sugandha Sachdeva, Vice President, Commodity & Currency Research, Religare Broking, is of the view that base metals story is far from over but is unlikely to be as exciting in financial year 2021-22 as was in the previous year.
The unprecedented fiscal and monetary policy measures across the globe, weakening of the dollar and prospects of a powerful economic upswing following emergence of vaccines turbocharged the rally in the base metals pack in FY21, says Sachdeva. Though the gains in FY22 are not expected to be as strong, base metals complex, a key indicator of global economic conditions, is likely to move higher in the later part of FY22, she says. ....

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gold price per gram today: Gold price down Rs 2,500 since Budget: Good time to buy?


Synopsis
Dealers believe increased demand for physical gold, ETF buying and exports will lend some support to prices in coming months.
Agencies
The demand for physical gold has already surpassed pre-Covid levels but the tax cut has not led to any instant demand in the physical market.
NEW DELHI: A 250 basis point tax cut and improving economic conditions have put pressure on gold prices, in both the physical and futures market, as the yellow metal is trading down nearly 5 per cent from its pre-Budget price.
Some analysts believe the precious metal may lose some more as rising yields and better than expected success in vaccination drive will lead money out of the non-yielding bullion. However, low level buying and wedding demand may provide some support. ....

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