Gold price touching the sky – Quote by Mr. Prithviraj Kothari, MD & CEO, RSBL
- Mr. Prithviraj Kothari, MD CEO of RiddiSiddhi Bullions Limited (RSBL)
Gold prices have been on an unstoppable run, skyrocketing from the $1800 (Rs 55000) level at the beginning of March to above $250/oz (Rs 61800) – notching up a spectacular gain of over 12%, in the last 2 months. There are basically three factors that are pushing the gold prices higher: Banking Crisis, Recession concerns and De-dollarization concerns that have emerged with the cracks in the banking system in March. These concerns have resulted in a capital flight from equities to gold. I expect gold prices to rise 15-20% above current levels by the end of the year.
