Trend remains negative for gold, silver: IIFL

Tarang Bhanushali of IIFL spoke to CNBC-TV18 about his views on the commodity market and where it could move from these levels.

Also read: Is gold's bull-run over after 12 years of gains? Bhanushali expects a minor bounce back in gold in today's trading session. He says, "One can go long keeping a target of USD 1,675-1,680 per ounce. We expect a minor bounce back, considering that it (gold) has declined sharply over the last two days." "The minor bounce back in the precious metal pack is largely due to the selling in the dollar. Largely the trend remains negative for precious metals," Bhanushali asserts. Must Read: Even gold bull Jim Rogers is turning cautious