Gold may rise on back of lower US bond yields: Angel Broking

Mr. Anuj Gupta (DVP - Commodities & Currencies Research, Angel Broking):

"Gold prices are expected to trade higher on the back of lower US bond yield. We have noticed that recently after the decision by the fed's on the US interest rates, concern towards the inflation and slow global growth, the gold prices are appreciating. The US data is also not to the mark which could support the gold prices.

Currently gold price is trading at $1317, and on MCX it is trading at 32100 levels and heading towards the north side. We are expecting gold prices may test the 32,500 to 32,600 levels and on comex, it may test $1330 to $1340 levels."

Source : Equity Bulls

Keywords