Gold has failed miserably - Views of Mr. Hitesh Jain, YES SECURITIES

Gold has failed miserably in terms of capitalizing on the potential tailwinds in the form of persisting geopolitical tensions emanating from Russia/Ukraine and US/China, struggling global equities and negative real rates. Even the recent retreat in the General dollar index has not triggered any buying, which stokes concerns that gold as an investment avenue is out of the reckoning amid the rapidly evolving global variables. The fact that it is responding poorly to what should be bullish news, conveys that the yellow metal does not have much upside short-term potential.