Gold Price and Outlook I Details explained by ICICI Securities
Gold prices opened slightly higher with a gap on Tuesday and rose further during most of the session till a high of Rs 44963. Prices recovered slightly in the last session as a pullback in US Treasury yields added some lustre to the metal after it hit almost a one year low in the previous session. ICICI Securities expect gold prices to recover further towards Rs 45300 level in the short-term.

The daily price action formed a bull candle with a long lower shadow, indicating elevated support base at 14900 as the fag end buying demand helped the index to recover 200 points from the day’s low (14925): Reuters