Gold may test USD 850/oz

If USD 835 per ounce is breached on the higher side on the Gold, then USD 850 per ounce is where one could see gold heading in the coming few days.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney
moneycontrol.com

Home » News » Commodities

Dec 11, 2008, 05.58 PM | Source: CNBC-TV18

Gold may test USD 850/oz

If USD 835 per ounce is breached on the higher side on the Gold, then USD 850 per ounce is where one could see gold heading in the coming few days.

Like this story, share it with millions of investors on M3

Gold may test USD 850/oz

If USD 835 per ounce is breached on the higher side on the Gold, then USD 850 per ounce is where one could see gold heading in the coming few days.

Post Your Comments

Share Cancel

Manisha Gupta (more)

Commodities Editor, CNBC-TV18 |

Here is a transcript of Commodities Editor, Manisha Gupta’s comments on CNBC-TV18. Also watch the accompanying video.

We have seen good gains in precious metal prices. Ditto is the case with energy as well. It is overall buying in commodities that has supported gold prices as well. Yesterday we saw 4% gains in gold and today it is 2% higher. USD 800 per ounce is holding and we have seen highs of USD 828 per ounce as well in the markets and more gain is what the markets are expecting because we have seen the US dollar decline. The sentiment for the dollar really is souring because the markets expect the US debt obligations to only get severe from here as the US comes out with more bailout packages.

Also, December 16 is when the FOMC may announce another rate cut. That also is working in favour of the precious metal prices and that is why support is coming in gold at this point. Inflation fears are back. If USD 835 per ounce is breached on the higher side, then USD 850 per ounce is where you could see gold heading in the coming few days.

Buy, Hold, Sell ? Hear it first on M3
Gold may test USD 850/oz

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login