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Gold heading towards no man's land

On the MCX, till last Thursday, open positions in gold were the lowest after November last year

Rajesh Bhayani  |  Mumbai 

Prices of gold could be heading into uncertain territory, for various reasons. Subsiding geopolitical issues and the certainty of a rise in US interest rates next month makes it difficult to rise in the medium term, say experts. The yellow metal fell to $1,221 an ounce, a two-month low. Silver fell sharply to $16.3 an oz in the US Comex division of the ICE exchange on Friday. In a month, gold is down 2.7 per cent; silver is down 10.8 per cent. Currently, gold is trading at $1,233 and silver at $16.4.  In India, gold is down 3.5 per cent over a month, to Rs 28,905 ...

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First Published: Tue, May 09 2017. 12:59 IST
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