Gold will make new highs again: Ashwani Gujral

In a chat with ET Now, Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, shares his views about gold.

On the prices of gold, does it seem like yesterday was just a temporary blip or some near term volatility in an otherwise secular bull trend?

If stocks are going through an upward correction, gold is going through a downward correction. In any kind of strong uptrend, 3 to 5 days worth of correction is a good point to enter gold and if we do see it correct fairly sharply by say 100-150 points, you would like to get into gold at lower levels. So you need to watch out that. As soon as you have this rally ending on the stock markets, people will move back into gold and it should make new highs again.