Gold prices were seen steady on Monday’s trade in bullion markets and are near 4 months high as dollar weakens. This week gold prices are seen in the range of 48400 to 49000. During this period, there will be high volatility in the prices of this precious metal on the bourses.
As gold prices have seen much upside from 42000 to 47000 within 2 months period, we might see some profit booking so prices may be volatile this week. There are lots of other factors also which will be responsible for volatility such as Fed Meeting in US may give boost to Gold Prices as they expect May Job figures will be below expectation. Also US is expecting Consumer Confidence and GDP data which are due in this week. Considering the overall trends, it seems gold will move upwards.
So, keep focus on investing in Gold or related instruments for a while till markets are normal. Though I suggest you all to talk to your Investment Advisor then only invest. We are just posting here our view, we are not responsible if you suffer any losses.