Beaking News

Thursday, 03 December 2015 00:00

Gold may fall down 5% in this month

Gold may fall down 5 per cent in 2015 till December. It is third consecutive year in its calendar for fall down its price in market. Gold prices plunged 9.3 per cent and 4.5 per cent in 2014 and 2013, respectively. The metal gained 12 per cent in 2012.

 In the ongoing calendar year, gold prices in the spot market fell from Rs 26,539 per 10 grams on January 2, 2015 to Rs 25,235 per 10 grams on December 1. During the year, it touched a high of Rs 28,168 per 10 grams on January 21 and low of Rs 24,562 per 10 grams on August 6. According to market experts, gold prices are surrounded by a complex set of factors ranging from the uncertainty of rate hike by the US Federal Reserve, low investment and physical demand, ECB decision to loosen its monetary programme for growth in the Euro-blow.

 Investment advisers assumed that In days to come, both currency and gold prices may remain influenced by global developments, dollar movement along with major economic data. As of now, the weaker Rupee is supporting bullions prices on local bourses and is expected to support in near term as well. in the physical markets, buying interest on back of ongoing marriage season may picked up as gold prices stayed near multi-month lows.

Read 15610 times Last modified on Thursday, 03 December 2015 10:46