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Introduction
Delhi, India- Gold has ebbed to an all-time low in the past week due to the Federal Reserve’s interest. rate hike. According to gold analysts the worst is still to come for gold. As 2015 comes to an end, gold continues to remain an under-performing commodity, in the face of years of loose monetary policy & cheap central bank liquidity. This being the 3rd consecutive years of losses for gold.
Now with the Federal Reserve determined to continue with its tightening of interest rates well into 2016, there is not much light for gold in the new year either
.
A strengthened dollar, hiked Federal Reserve interest rates, collapsing commodities don't augur well for gold.
According to gold analysts the metal is showing a downward slide, indicating a possibility of going below the critical level of $1000 by the 31st of this month. Gold as one reads is down by 11 % and so is the euro; the dollar however, is up by 11 % indicating strengths. They predict a bull to bear reversal for gold in the long term implying 2016; a move lower.
Investors are advised by seasoned precious metal strategists to wait and watch the commodity metal break above its present all time low and only then invest in it. Which implies investment only if it comes around the $1215 level. They are advising investors to keep away at the moment and buy it higher on the way up rather than on the declining slide.
Gold recovered its domestic position to reclaim the 25K-per ten grams level.
Silver followed suit on bullish speculative buying and favouring industrial demand.
Standard gold (99.5 Purity) improved; reaching an Rs 265 per 10 grams to end at Rs 25,200 from last Friday's closing level of Rs 24,935.
Pure gold (99.9 Purity) witnessed a jump of a similar margin of Rs 265 to finish at Rs 25,350 per 10 grams as compared to Rs 25,085 previously.
Silver (.999 fineness) also escalated to a Rs 905 to close at Rs 34,425 per kg as against Rs 33,520
Now with the Federal Reserve determined to continue with its tightening of interest rates well into 2016, there is not much light for gold in the new year either
.
A strengthened dollar, hiked Federal Reserve interest rates, collapsing commodities don't augur well for gold.
According to gold analysts the metal is showing a downward slide, indicating a possibility of going below the critical level of $1000 by the 31st of this month. Gold as one reads is down by 11 % and so is the euro; the dollar however, is up by 11 % indicating strengths. They predict a bull to bear reversal for gold in the long term implying 2016; a move lower.
Investors are advised by seasoned precious metal strategists to wait and watch the commodity metal break above its present all time low and only then invest in it. Which implies investment only if it comes around the $1215 level. They are advising investors to keep away at the moment and buy it higher on the way up rather than on the declining slide.
Gold recovered its domestic position to reclaim the 25K-per ten grams level.
Silver followed suit on bullish speculative buying and favouring industrial demand.
Standard gold (99.5 Purity) improved; reaching an Rs 265 per 10 grams to end at Rs 25,200 from last Friday's closing level of Rs 24,935.
Pure gold (99.9 Purity) witnessed a jump of a similar margin of Rs 265 to finish at Rs 25,350 per 10 grams as compared to Rs 25,085 previously.
Silver (.999 fineness) also escalated to a Rs 905 to close at Rs 34,425 per kg as against Rs 33,520
Contact Info
Address:
Building No,1190, 3rd Floor, Kucha Mahajani Chandni Chowk
Delhi
Delhi 110006
India
Delhi
Delhi 110006
India
Tel:
011-39908035
Website:
http://www.jindalbullion.com
Hours of operation
| From | To | From | To | From | To | ||
|---|---|---|---|---|---|---|---|
| Monday | Open | ||||||
| Tuesday | Open | ||||||
| Wednesday | Open | ||||||
| Thursday | Open | ||||||
| Friday | Open | ||||||
| Saturday | Open | ||||||
| Sunday | Closed | ||||||
