Gold shines, but Safetrade advices sell at Rs 25700

On Wednesday, gold was steady overseas and hovered near a lifetime-high of around USD 1,778 an ounce. Safetrade Advisors' N Prasad feels that the international markets have come back with confidence, which can push gold prices down.

Prasad told CNBC-TV18 that gold will see intra-day dips and corrections in the short-term. He said, "One can sell gold around Rs 25,700 per 10 grams levels with a stop loss of Rs 25,850 per 10 grams and target of around Rs 25,200-25,300 per 10 grams for the day."

Prasad expects some sell-off in gold as the rupee can also strengthen.

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