With the gold market on a bullish streak, analysts are betting on the prices reaching its all-time highs once again. Domestic gold prices have risen sharply to their five-month highs this week.
On the Multi-Commodity Exchange (MCX), gold was trading 0.30% higher at Rs 49,140 for 10 grams in the afternoon trade on Wednesday.
Gold prices have already surged 8% in May, marking the best month since July 2020 and is on course to erase all losses of 2021 so far.