Gold, Rupee and Equity Markets Outlook - Details explained by ICICI Securities
Gold prices opened slightly higher on Monday and fell sharply during the first half of the session till a low of Rs 47201. However, prices did not sustain at lower levels and recovered strongly in the remaining session till a high of Rs 48847. Prices fell sharply in the last session due to a surprise cut in import duty and recovered strongly on a separate tax imposed on imports. Overall, ICICI Securities expect gold prices to consolidate in the range of Rs 48500 – Rs 49500 levels in the short-term.
ICICI Securities expect gold prices to consolidate in the range of Rs 48500 – Rs 49500 levels in the short-term: Reuters