The overall sentiment is very risk-on and it is unique for gold, said Mark To, Head-Research at Wing Fung Financial Group on Friday.

Speaking in an interview to CNBC-TV18, he said, “Gold price has been performing so well in last year, in fact whole decade. So, I will expect further upside. The overall sentiment is still very risk-on and it is very unique for gold; you have a dual role, one of the risk-on and other for risk-off. So while there is upside for the long-term investors and they can have a more conservative view on the whole while there will be less risk; the price volatility will be much reduced from the long-term average as you compare with the past one or two decade. So it is very favourable.”

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(Edited by : Ajay Vaishnav)