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3 Apr 2009

Gold Likely Future Price | Gold as an investment option | Update


1. Gold is appearing to have reached the peak and is presently on the down trend. Gold is seeing a stiff resistance at $985 per ounce and this the reason that in this time the rally in gold fizzled out at the levels of $965. Gold is presently having a strong support at the levels of $875.

2. In case gold kept the downward trend than the same can fall to the levels of $850-810-700 levels and in an upswing can touch the level of $1000.

3. Presently gold is taking a hit as equity market is showing an uptrend and thus people are selling their gold to enter in the equity market. Same is the case with the silver as an investment option which is also seeing a fall in the price. One can see activity emerging in bullion market once gold closes below the level of Rs 14599 per 10 gm or $800 per ounce in the international markets.

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