Analyst says sell gold on rallies over rate-hike worries
In short
Praveen Singh of Mirae Asset Sharekhan said gold is under selling pressure. He linked that to worries about higher rates and inflation staying hot.
This matters for gold traders and investors watching price swings. The report does not give a price target or say how long the pressure will last.
What the reporting says
Praveen Singh of Mirae Asset Sharekhan said spot gold is facing heavy selling pressure as rate-hike concerns and hot inflation weigh on prices. The Business Standard summary says he advised selling into rallies, but it does not give a current price, a forecast horizon, or any official policy move. The immediate takeaway is a cautious short-term view on gold.
Why it matters
Praveen Singh of Mirae Asset Sharekhan said spot gold is being sold heavily because traders are worried about more rate hikes while inflation remains hot. The report frames this as a tactical view to sell into rallies. No price level, time frame, or policy decision is given, so the market implication is limited to short-term sentiment on gold.