Tipping Point: Will gold shine again if the US Fed fails to hike rates?

Will gold shine again? 

  

Gold, currently trading at around Rs 30,500, has been an underperformer for the past five years, having given investors a paltry return of 0.04 per cent. This year the currencies of emerging markets like Turkey and Argentina have depreciated sharply against the dollar. The global trade war, too, could affect the volume of trade, and hence, global growth. So far, gold has been held in check by the strength of the dollar. But if the US Fed fails to hike rates as aggressively as projected, and the global outlook worsens, the yellow metal could well regain its