Bargain hunting following the slight dip in gold prices over Easter has helped to drive gold futures in India back up.
Although prices for gold bullion fell by around $96 an ounce over the Easter period, prices have steadied again and investors in gold have rushed to take advantage of this, continuing to place their assets in the precious metal, especially overseas, it has been claimed.
"After such a huge fall, there is bound to be bargain hunting," T Gnanasekar, director of Commtrendz Research, told Reuters. "There would be buyers now that gold has held steady."
Analysts continue to advise potential investors that now is still a good time to buy gold.
"Yes, it is a buy right now," Ashraf Laidi, chief strategist for CMC Markets, told Bank Rate. "Gold is at an all-time high [and] I think you should look into at least 10 per cent to 15 per cent [gold] allocation."
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