Gold and Equity Markets Outlook II Details explained by ICICI Securities
Gold prices opened strongly higher with a gap on Tuesday and consolidated during most of the session in the range of Rs 47800 – Rs 48200 levels. Prices have bounced strongly in the last few sessions as investors weighed prospects for more stimulus in the US and the possibility of higher consumer prices against a focus on Bitcoin and stocks at a record. Therefore, ICICI Securities expect gold prices to remain positive towards Rs 48500 level in the short-term.
The Nifty midcap and small cap indices are sustaining well above their January swing high post witnessing faster pace of retracement which augurs well for further acceleration of relative outperformance: Reuters