Gold remains on high demand despite global dip
Posted on: 06/Oct/2014 1:05:12 PM
Study reports say gold will have its glory kept retained nevertheless prevailing global uncertainties. With festive season fast approaching in India, a huge gold consumer in the globe, and wedding season fast pacing, the yellow metal is sure to have a steady demand in the coming days despite financial impact created by global investors by shuffling investments in the US financial markets, say reports form Asscham study.
Though gold is likely to experience bearish scenarios in international market owing to increasing confidence in the US dollars, the metal will still have its place firm in India where it will have huge welcoming in the upcoming 3 to 6 months which might oscillate between Rs 26,600 and Rs 27,900 per 10 grams.
Considering the international market, gold is facing a dip below $ 1200 per troy ounce. This however doesn’t have any impact in its Indian market, say reports. The stabilized state of the yellow metal is said to be due to neutralization by the increasing value of US dollar.
