Radhika Rao from DBS Group Research has pointed out that the minutes from the Reserve Bank of India (RBI) reveal a more cautious approach than what Governor Sanjay Malhotra has publicly suggested. This has dampened market expectations for future rate cuts.
What Does This Mean for Gold?
Gold prices are often influenced by central bank interest rate decisions. When interest rates are low, investors tend to seek other assets like gold that might offer better returns. Therefore, reduced expectations for rate cuts in India could impact gold demand.
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