07.01.2015 - Gold and Oil: Who's going to bottom out soon?
In recent days, I have encountered a few questions related to gold and whether it would be right time to invest. In November, we had expected an uptrend in gold in the beginning of New Year and now the break of $1200 resistance levels, analysts may be watching for the next breach at $1230, 1250 upto $1280 per ounce levels. Time and again I have told that gold price in India is basically a function of global spot prices plus import duties and local taxes. Gold demand has been fairly inelastic in the country with higher prices only raising the urge to buy more so that they don't end up buying at still higher prices...............................................Full Article: Source
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