Where is gold headed next week? Praveen Singh of Sharekhan decodes
Despite rallying risk assets, the 10-year US yields inched higher to finish over 1% higher at 3.315%, which is close to its cyclical high. The gold rally has faltered once again at $1730 level. The factors that led to a decline in the US Dollar Index are unlikely to be effective for long. Traders will use rallies in gold to sell with $1675 level in focus on the downside. The upside is capped at around $1750.