News & Analysis
Spot Gold slipped yesterday and touched a low of $1115.8
March 19, 2010, Friday, 10:00 GMT | 06:00 EST | 15:30 IST | 18:00 SGT
By Amar Singh, Reena Walia Nair (Angel Broking)
MARKET RECAP
Spot Goldprices slipped yesterday and touched a low of $1115.8 as a stronger dollar exerted pressure on prices. Risk aversion in the financial markets emerged as investors became concerned over Greeces bailout issue which currently looks unlikely considering the apprehension shown by Germany over the same. This led the low-yielding dollar to gain as a safe-haven investment
OUTLOOK
The yellow metal could continue to trade with a negative bias today as the currency factor could lead to downside pressure.
There is no major economic data to be released from the US today. This may allow the dollar to remain strengthened till the markets receive fresh updates to revive.
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