Reply #59: Still betting on falling gold? Experts say WHY NOT [View All]

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http://www.moneycontrol.com/news/commodities/still-bettingfalling-gold-experts-say-why-not_541172.html

Despite heavy buying on the auspicious day of Akshaya Tritiya, both gold and silver tumbled on weak global cues. Silver nose-dived by Rs 6,000 to Rs 53,200 per kg and gold plummeted by Rs 225 to Rs 22,120 per 10 grams.

So is it advisable to bet on both, or, in fact, either of the precious metals today? Gnanasekar T of Comtrendz says why not. "Gold will end today's trade close to Rs 21,400-21,800 per 10 grams." He sees the current correction as a healthy one and says the rally is likely to continue on surging inflation and an intact Fed policy. "The metal may touch Rs 23,500-24,000 by this year end," he added.

However, Alex Mathew, head of research at Geojit BNP Paribas Financial Services expects another 2-3% correction in gold prices.