Dharmesh Bhatia of Emirates NBD discusses with Surabhi Upadhyay the current trend in commodities markets.
Trump has created some jitters in the international market. Globally if you see, all the equity markets have tanked especially Chinese FTSE, Nikkei, Hang Seng, everything has corrected very sharply, he said.
You can see dollar getting strengthened. I am expecting dollar index to head towards 91-92 level mark which is actually depreciated 14 percent, he said, adding ‘This will push the gold prices higher. I am expecting gold internationally to touch the previous high of around USD 1,366-1,367 per ounce.’
Domestic market because of rupee getting depreciated to 65 per dollar levels, you can see some kind of support. However, overall I am expecting because of the equity correcting, gold getting some support and you can see some rally in international and domestic market, both, he added.