Gold enters long-term bull market but analysts urge short-term caution

Experts are now eyeing the Trump-Xi meeting on Saturday; if a deal to end the trade war is struck, gold could shed $100 quickly. But if things worsen it could move by as much as $200

Gold prices seem to have entered a long-term bull phase, having increased by 11.5 per cent in just a month, in one of the fastest rises seen in recent times. The spike has taken the metal to its highest in six years in the international market. 

In India, prices have hit an all-time high, with a mammoth 12 per cent rally, the highest month increase since March 2016. Due to this, the demand for new gold has tapered, while the sale of old metal and jewellery has reached a peak. Analysts, however, advise caution in the short term.

The rally