Gold slips on MCX, October futures fall ₹133 to ₹154,129
Business
Gold prices slipped on the MCX Tuesday, with October futures down ₹133 to ₹154,129 per 10gm.
Meanwhile, global gold prices saw a tiny bump as US Treasury yields eased.
Still, rising oil prices and inflation worries are making investors less hopeful about US interest rate cuts anytime soon.
Wood and Paulson suggest buying gold
Some big names like Christopher Wood (Jefferies) and John Paulson see this price drop as a chance to buy gold gradually.
Paulson points out that both central banks and regular investors are still keen on gold, especially as a backup when people lose faith in paper money.
Both suggest gold could stay strong over the long run.