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Gold may get cheaper by Rs 2,000 in medium term: Assocham
May 31, 2013
12:29 pm
Harrey Martin
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Forum Posts: 74
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May 8, 2013
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Gold prices may fall by Rs 2,000 from the present levels in the near to medium term as the precious metal is losing appeal as an asset, a report by industry body Assocham has said.

The report, however, said that gold is unlikely to fall below Rs 25,000 per 10 grams due to a strong buying support at that level and a weak rupee against the US dollar.

Gold prices have come down to Rs 27,790 per 10 grams in the national capital this month from the high of Rs 32,990 per 10 grams in April.

"A fall of Rs 2,000 or little more from the present level looks plausible in the near to medium term," according to Assocham report on gold.

Read more: http://commoditytradingtips.bl…..-assocham/

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