Gold prices unlikely to come down in near future, says expert

PANAJI: Gold prices are unlikely to drop at least for next one year which makes the investment in the yellow metal a wise decision, an expert said today.

Mineral Metal Trading Corporation (MMTC) General Manager (Precious Metals) Ravi Kishore said the global economic scenario is directly linked to the prices of gold.

"The prices will not come down at least for six months to one year and the upswing will continue," Kishore told PTI here.

He said that gold prices are not linked to wedding season or any other phenomenon.

"Gold prices are directly linked to economic scenario. Thats why during last two years, gold prices were appreciated close to 100 per cent," he said.

MMTC is the largest state-run trading company in India dealing with Gold and Silver.

Kishore said that there is no harm in investing in Gold in the current scenario as the prices will refuse to come down.

"Its a good investment option for short term. The international economic scenario will not improve at least for few months, beyond that, no one can foresee," he added.