Gold, Rupee, and Equity Markets Outlook - Details explained by ICICI Securities
Gold prices opened sharply lower with a gap on Friday and recovered gradually during most of the session till a high of Rs 46490. Prices have been under pressure in the last few weeks as US treasury yields continued their march higher, souring the non-interest bearing metal's appeal. Therefore, ICICI Securities expect gold prices to consolidate in the range of Rs 45800 – Rs 46800 levels in the short-term.
Equity benchmarks snapped past two weeks winning streak and settled below the psychological mark of 15000 amid subdued global cues. The Nifty ended the week at 14982, down 1.2%: Reuters