New Samvat 2080: A year of hope for industrial and precious metals

So far, the rally in gold prices, driven by conflict in West Asia, is not sustaining because the US appears to have deterred Iran from escalating the conflict through its proxies

The new Samvat 2080 is viewed as a year of hope for industrial and precious metals.

A key reason is the expectation of US interest rates peaking, followed by a reduction in the coming months. Regarding crude oil, its trajectory depends more on how the situation unfolds in West Asia.

According to Nigam Arora, a US-based algorithm analyst and author of The Arora Report, “Although higher interest rates are not favourable for the yellow metal, gold has been bought on hopes that the US Federal Reserve (Fed) is done with increasing rates and will cut rates in 2024.”

So far,