In this episode of the State of the Economy podcast, businessline’s Subramani Ra Mancombu talks to Manav Modi, Research Analyst Commodities and Currencies, Motilal Oswal Financial Services about the current state and future prospects for gold.

The podcast starts by highlighting the recent firmness in gold prices, hovering around $1990.00 an ounce, marking a six-month high. The journey throughout the year has been marked by volatility, with prices fluctuating between $1800 and $2050 per ounce. Various factors, including high-interest rates and geopolitical crises such as the Ukraine war and the Hamas-Israel standoff, have contributed to the swing in gold’s value.

Modi provides a comprehensive overview, discussing the impact of high-interest rates and geopolitical tensions on gold prices. He anticipates that high-interest rates will persist until the first quarter of 2024, after which central banks might initiate a shift. The Reserve Bank of India has been actively buying gold, leveraging the depreciation of the rupee. The conversation doesn’t limit its focus to gold; he also shares insights into silver and emphaises its high-beta nature and potential for outperforming gold.

The conversation goes beyond gold; he also shares valuable suggestions to investors and buyers. He advises keeping a close watch on central bank policies, geopolitical events, and economic data.

(Host: Subramani Ra Mancombu, Producer: Amitha Rajkumar


About the State of the Economy podcast 

India’s economy has been hailed as a bright spot amid the general gloom that seems to have enveloped the rest of the world. But several sectors continue to stutter even as others seem set to fire on all cylinders. To help you make sense of the bundle of contradictions that the country is, businessline brings you podcasts with experts ranging from finance and marketing to technology and start-ups