Commodities News

Why gold prices may plunge to Rs 20,500 level in India

Why gold prices may plunge to Rs 20,500 level in India

Gold prices in the country may even dip to Rs 20,500 per ten grams, a level last seen about 5 years ago, in case of a rate hike by US Federal Reserve later this year, according to India Ratings and Research (Ind-Ra).

Gold prices flirts with 5-1/2-year low as dollar lifts on Sept Fed hike view
Gold prices flirts with 5-1/2-year low as dollar lifts on Sept Fed hike view

Gold prices dipped towards its weakest level since early 2010 after the Federal Reserve said the US economy continues to strengthen, supporting a potential interest rate rise when the Fed meets again in September.

Horoscope: By Peter Vidal

Today ( 31 Jul )This Week ( 26 Jul - 01 Aug )

SAGITTARIUS IAbout the only thing you can do is be as philanthropic and charitable as you can - and provide a valuable back-up for other people. Put unstinting effort into improving the quality of life for partners, and… read more