Gold now heading southwards with US debt deadline is nearby. In the international Market Gold is Trading at $1,272 an ounce.
When Gold was on the rise last year then everyone expecting that Gold may zoom past $2,000. But there was steady fall in Gold rates in International Market.Thanks to falling Rs. which provides cushion to Gold in Indian Market. Which is still trading above 30000/- in Indian Market.
If US is unable to find any solution at it's deadline then there will be more fall in Gold prices.So don't trade in Gold for now as it may move in any direction.
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Gold in the Downtrend
Gold now heading southwards with US debt deadline is nearby. In the international Market Gold is Trading at $1,272 an ounce.
When Gold was on the rise last year then everyone expecting that Gold may zoom past $2,000. But there was steady fall in Gold rates in International Market.Thanks to falling Rs. which provides cushion to Gold in Indian Market. Which is still trading above 30000/- in Indian Market.
If US is unable to find any solution at it's deadline then there will be more fall in Gold prices.So don't trade in Gold for now as it may move in any direction.