Gold will remain under pressure in short term, says Nirmal Bang Commodities

Kunal Shah, head of commodities research at Nirmal Bang Commodities spoke to CNBC-TV18 about the current trend in gold and other precious metals.

Talking about the gold prices, Shah said, “The major trigger right now for gold is going forward how the economic scenario whether there is going to be a little bit of slowdown going forward and that can trigger investment demand in gold. The retail jewelry demand has remained poor from last so many times, so many months in fact and apart from that dollar has been continuously moving up. So these two factors are pointing towards this in short-term gold prices may not be able to move up but I am bullish from the long-term scenario."