Gold, Rupee and Equity Markets Outlook: Details explained by ICICI Securities
Gold prices started Monday’s trade on a strong note opening higher with a gap and rose further during most of the session till a high of Rs 46966. Prices bounced strongly in the last session as support from a weaker dollar eclipsed pressure from former Treasury yields. Therefore, ICICI Securities expect gold prices to recover further towards Rs 47200 level in the short-term.
Equity benchmarks started monthly expiry week on a negative note tracking weak global cues. The Nifty ended the session at 14676, down 306 points or 2%: Reuters