Gold prices may fall

gold.rate_.india_Bullion market said that prices of yellow metal will further go down. With the fall in gold prices investors were diverting their funds to other sectors and it resulted in fall in the demand of the metal. It may further touch Rs 23,000 level. In Hyderabad 24 carat gold costs above Rs 25,000 while 22 carats ornamental gold price is Rs 24,000. Import of gold was initiated as part of cuttiong burden on imports and this has led to fall in gold value. Dollar index has shot up by 20 percent. Reports that China was disposing off gold, Greece bail out, stronger Equity markets, central banks reducing gold allocations have been attributed to fall in gold prices, according to commodity analysts. Now the metal reached the all-time lowest level which induces the buyers.

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