INSUBCONTINENT EXCLUSIVE:
In US dollar term, gold is likely to be in the range of $1,360 in the upper level, said an expert.Mumbai: Gold prices are likely to rise up
to Rs 34,000 per 10 grams level during Diwali mainly on the back of depreciating rupee and geo-political concerns, according to analysts
Gold prices are likely to hold in the range of Rs 30,000-34,000 per ten grams until Diwali in the domestic market, and internationally the
things to know:Weak rupee: "Price would have absorbed the effect of rate hikes and rate hikes would only confirm inflationary expectations,
which could increase the appeal for bullion as a inflationary hedge then
June 8 closed at Rs 31,010 per 10 grams and while in New York it closed at $1,302.70 an ounce
Globally, Thiagarajan said, gold prices have been in a range being capped by rising yields and dollar, and supported by global uncertainties
economy and I feel there is a possibility of rate hike
This will cap the volatility in gold
So during Diwali the gold price is likely to be around Rs 31,500 in the upper range and around Rs 30,000," said Angel Broking Chief analyst
though the equity market has boomed gold prices have held very well
This is an indication that investors are concerned of a stock market correction anytime which would be a good news for gold prices,"
has been virtually absent as stock markets have been delivering good returns and conventional jewellery demand has also not seen any rise
forward due to rise in minimum support price (MSP) will aid in higher incomes and spending in gold
Normal monsoon predictions could also boost overall sentiment for rural demand, he added
Meanwhile, high domestic prices kept away the Indian customers, however, they will comeback if the gold dips close to 30,500-30,000, said an
