The relationship between the US dollar and gold is often characterized by an inverse correlation. When the US dollar weakens, gold prices tend to rise and vice versa. Earlier, gold prices in the international markets were primarily driven by real interest rates. Robust US economic release boosted bets of higher-for-longer rates which ended up lifting the US currency and bond yields.
The strong momentum seen last week has led to the hope of the momentum continuing in the week ahead. However, sustenance of the momentum depends on the outcome of certain crucial events such as the outcome of the assembly elections that took place in 5 states, the outcome of which will be out on Sunday.
Do not chase the new stocks at new highs because you have the fear of losing out. . HCL Tech has been my top pick over there. I still think HCL Tech is headed to Rs 1500 and I would add a Persistent and Coforge on declines. It is better if you chase an ETF, that is the CPSE ETF, it comprises about 12 of the best blue chips of PSUs.