In last few days international gold prices have come off from $ 1920 to $1761 in 10 days.
What happened ?
To understand that -- first let`s agree that gold was above 1900 because of uncertainty about greece and euro zone re-action to it. So markets were Risk-off thus buying into gold.
European central bank along with a co-operation from US,UK,Swiss assured dollar availability
and ample liquidity into the european markets. This led to Risk-on climate , and the long speculators did some profit taking -- essentially reducing the weight before any further trickle of news from Europe.
Gold in Indian Rupees too reacted, The kotak gold fund has come off from august high of 2782Rs./ gram to close this week at 2647.60 Rs.
What happened ?
To understand that -- first let`s agree that gold was above 1900 because of uncertainty about greece and euro zone re-action to it. So markets were Risk-off thus buying into gold.
European central bank along with a co-operation from US,UK,Swiss assured dollar availability
and ample liquidity into the european markets. This led to Risk-on climate , and the long speculators did some profit taking -- essentially reducing the weight before any further trickle of news from Europe.
Gold in Indian Rupees too reacted, The kotak gold fund has come off from august high of 2782Rs./ gram to close this week at 2647.60 Rs.
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