Gold prices hit 2-month low; may soften further

Gold prices may undergo further correction, providing some relief to families preparing for weddings this season. The prices fell below Rs 60,000 per 10 gm on Tuesday and were hovering around Rs 59,980 per 10 gm. The long-term outlook for gold remains bullish. The decline in gold prices can be attributed to various factors like dollar appreciation, rising interest rates, and weak demand in spot markets. Investors are advised to wait for further fresh investment but can start accumulating as the prices can beat around Rs 58,500 but are not likely to go below Rs 58,000.

Gold prices hit 2-month low; may soften further
Gold prices may undergo further correction, providing some relief to families preparing for weddings this season. The prices fell below Rs 60,000 per 10 gm on Tuesday and were hovering around Rs 59,980 per 10 gm. The long-term outlook for gold remains bullish. The decline in gold prices can be attributed to various factors like dollar appreciation, rising interest rates, and weak demand in spot markets. Investors are advised to wait for further fresh investment but can start accumulating as the prices can beat around Rs 58,500 but are not likely to go below Rs 58,000.