The recent falls in gold have been contributed to a strengthening US dollar and persistent rumors that the US Federal Reserve will begin tapering its extensive asset-purchasing program earlier than expected. Essentially, investors have increased their risk appetite causing them to reduce their interest in safe-haven assets, such as gold.
If this turns out to be true, gold prices can touch $1282/oz from Friday levels of $1357/oz.
“While we note that Indian’s jewellery demand has tended to pick up as gold price inc..
For intra-day, support for the commodity is seen at 25800 while 26150 is the resistance. Traders ..