Research Report

Gold traded around $1,775 an ounce on Monday after falling from one-month highs in the previous session, as a surprisingly strong US jobs report last week bolstered expectations that the Federal Reserve will continue to tighten aggressively.

  Bullion counter is expected to witness profit booking at higher levels as strong job data in US can prompt Federal Reserve to hike interest rates at faster pace.  

Nifty index ended flat after a lackluster trading session, closed shop at 17397 levels, up 15 points from its previous closing value.

The stock is trading at ttm P/E multiple of 18.9 times which is lower than the 10 years average P/E of 20.41 times.          

Bullion counter may witness some short covering at lower levels as investors will eye the outcome of US inflation data tomorrow.

The stock is trading at P/E multiple of 2.75 times which lower than 5 years averages