Should you buy gold at the current levels? Here's what experts suggest

Gold is in oversold territory in short-term, as it has crashed from Rs 32,538 to Rs 31,300 in six trading sessions

US Dollar (DXY) is again testing levels of 98. The FOMC minutes released recently didn’t provide the volatility needed to free DXY from its current range. 

Indian rupee, meanwhile, opened strong as NDA was on track to resume power for the second time, but failed to sustain near its support zone of 69.40. That level has been tested twice and rupee has bounced from that level. 

On the upside, we expect rupee to test levels of 70 and expect trade in a range of 69.40-70 in the coming sessions.

Gold, on the other hand, is in trouble. After China’s retaliation, gold jumped from