Will Gold Prices Remain Under Pressure? CARE Ratings’ Take
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CARE Ratings Research Report
The rise in interest rates and low liquidity created pressures on the international gold prices during February 2021.
Alongside, the widespread rollout of coronavirus vaccines in various nations created hopes of a faster global economic recovery, which capped the upside potential of gold price movement.
However, the downside potential of this metal’s prices was restricted by the gradual spread of new strains of Covid-19 which led to fresh lockdowns in various cities of developed nations like the U.K. and Canada, among others.
Global gold investment demand Investments in gold-backed ETFs continues to remain firm as data from World Gold Council shows that global inflows in such assets stood at $7,238 million for year-to-date February 19, 2021.
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