Gold price rebounds from 2-month low. Should you buy or wait for next sell off?
1 year, 9 months ago

Gold price rebounds from 2-month low. Should you buy or wait for next sell off?

Live Mint  

Gold rate today: On account of ease in US dollar, gold prices in domestic and international market witnessed some bargain hunting in the week gone by. According to commodity market experts, correction in US dollar rates and Dollar Index retracing from the resistance levels was the major reason for bounce back in gold prices across world in the week gone by. Sharing major pivot levels for gold, Anuj Gupta of IIFL Securities said, "In international market, small range of gold is placed between $1,835 to $1,860 per ounce levels whereas broader range of the precious metal is lying in between $1,810 to $1,890 levels. Unveiling near term investment strategy for gold investors, Anuj Gupta said, "US dollar is expected to remain sideways to bearish in near term, which may support gold price. So, one should buy at support levels and book profit at resistance levels as overall trend for gold price may remain sideways to positive till final outcome of the US Fed's FOMC meeting becomes public."

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