Are gold prices reversing? Fell 5.2% in a fortnight from all time high

There is also a buzz in the market that the comprehensive gold policy is ready and center may announce it soon

Gold prices seem to be reversing from its all-time high seen in third week of last month. Reversal is because of strengthening rupee, subdued demand, and lack of reasons for bulls to continue positions and speculation of reduction in import duty. Analysts don’t see much reasons for sharp fall, though the prices have fallen over 5 per cent in a fortnight.

Ahammed MP, Chairman, Malabar Gold & Diamond said, “Strengthening indian rupee had aided to fall in prices as there is no drastic changes in supply demand situation. Price is still high which keeps buyers away even during festival seasons.”