Gold, and Equity Markets Outlook II Details explained by ICICI Securities
Gold prices started Thursday’s trade on a strong note opening higher with a gap and fell gradually during most of the session till a fresh eight-month low of Rs 46011. Prices have been falling gradually in the last two weeks as recent strength in US treasury yields dented the non-yielding metal's appeal. Hence, ICICI Securities expect gold prices to remain weak towards Rs 45200 level in the short-term.
In line with ICICI Securities view, relative outperformance of broader markets endured despite extended profit booking in the benchmark, highlighting inherent strength: Reuters