After two days’ meeting, the US Fed did not make any changes in interest rates, but this year gave strong signs of increasing rates. So, the pace of gold has come to an end and the price has come down to the lowest level in the last three weeks. From the recovery of the dollar, Gold on commex has come down to $ 1,300 and this is about 5 percent dipping from this year’s height. It is believed that further fall in gold can be a cause of decline. There is also a weak Silver.
Gold has broken more than Rs. 250 in the domestic market today. MCX Gold has been fallen inspite rupee weakness. Silver has also dropped sharply with its price dropping by almost 500 rupees.
@ Buy Gold for Intraday october future above 29500 targets 29575, 29650 Stop Loss 29411.