Tuesday, 19 September 2017

Gold might fluctuate towards $1260 per troy ounce

The price of gold has declined steadily after touching $1357/troy ounce in early stages of September due to the risk aversion on North Korean tension. The reason is the ballistic missile of North Korean missile test failed to shore up the safe-haven demand .due to which yellow metal has triggered very badly. The current rate of yellow metal is at &1309/troy ounce.

Readers should take into their account that gold's decline came despite a weakness in the dollar id dollar comes back into its original position it would add to the selling pressure. Gold till yet has not reached the bear market which could push the selling momentum of the yellow metal as low as &1256/troy ounce.

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