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Gold price likely to hit low by December
Posted on: 20/May/2015 8:54:29 AM
Prices of domestic gold has recovered by a percentage of 5.5 in the last 2 months and is priced Rs 27,252 per 10 grams as of 15th May which was earlier Rs 25,838 per 10 grams on 16th March. Anyhow, the trend may reverse. The reason behind the positive momentum in price of gold is said to be due to the weak economic data from US.
In the first quarter of 2015, the GDP of US will rise at an annual rate of interest of just 0.2 per cent which is claimed to be the weakest in the year and lesser the expected level.
Speaking about this, Prathamesh Mallya, senior research analyst of Non-agri commodities, Angel Commodities Broking, he says apart from the influence of US economic data, developments in Greece also play a major par in hiking price of gold in the past few weeks.
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