Gold prices may correct further as rising bond yields and positive outlook on economic growth seems to have faded the demand for gold, say experts
For the next few weeks, the market trend would depend on the long-term bond yield trend, which should be on the watch list, say experts
Such events make investors realise that one should always be prepared for any kind of eventualities
The precious metal has been under pressure since the start of this year amid hopes of faster global economic recovery and rising US bond yields
Nifty may face resistance around 15,180-15,250 levels whereas 15,000-14,950 may act as support zone for Friday, say technical experts
One must wait for some more correction to buy gold as the the rising bond yields may continue to cap upside: Expert
"We have to weather this crisis and move on. Many systemic insights from todays failure. What does not kill the markets, makes them stronger," said Ajay Bagga
The demand for the yellow metal therefore may remain elevated as it considered a hedge against inflation and currency debasement, expert said.
Reliance Industries, Larsen & Toubro, ICICI Bank, TCS, SBI contributed maximum to the recovery in markets .
Gold may test levels of Rs 47,500-47,700 in the near term, said Kunal Shah, Head-Commodities & Currency Research at Nirmal Bang