Gold, Rupee and Equity Markets outlook I Explained by ICICI Securities
Gold price has been falling gradually for the last few sessions as rising economic expectations and inflation concerns vaulted benchmark US Treasury yields to their highest levels since the pandemic began, helping lift the dollar. Gold prices opened slightly lower on Thursday and fell further during most of the session to a low of Rs 46060. Hence, Sharekhan expects gold prices to remain weak towards Rs 45900 level in the short-term.
The Nifty opened the derivative expiry session with a positive gap (14982-15080) and traded above the same throughout the session, indicating inherent strength: Zee Business