| The demand for gold is once again sparkling this Diwali. According to the All India Gems and Jewellery Trade Federation, gold sales this Diwali were 20 per cent higher than the previous year. Since the Indian rupee is range-bound between 61 and 62 over the last few weeks, the domestic gold price is now largely influenced and moves more in tandem with the global price.
The probability is high for the market to remain stable at least until the US Federal Reserve meeting on Wednesday. The outcome of this meeting is expected to increase the volatility in the market. Also, it could set the short-term trend for the gold price...............................................Full Article: Source
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