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Gold might trade in a range of roughly between Rs 25,000-Rs 28,500.
Though there is some weakness in international market but we may see an upside of around Rs 31,000 in gold in MCX due to supply squeeze.
A type of tea called Longjing or Dragon Well in China hit a record presale price of $57,024 per kilogram this year.
From this Diwali to the next, we feel that gold prices should consolidate around levels of $1800/oz in the international markets and around Rs28,000/10gm in the Indian markets.
Surging gold prices spur demand for diamond in India with buyers expecting high returns, a top official of the Gemological Institute of America has said.
The yellow metal has always been in demand, but never was it such a prized possession as now.
Gold prices extended their fall for a third day on Monday, triggering a slight pick-up in physical offtake in the middle of the wedding season that will last till December-end, dealers said.
Gold prices soared to a record 1,174 dollars an ounce here on Monday as a sliding US currency and worries about a possible spike to inflation increased demand for the "safe-haven" metal, traders said.
Standard gold prices crossed Rs 16,700-level for the first time in the history on the bullion market in the early trade on hectic stockists How to invest in gold buying triggered by rise in the global market.
Gold prices continued its record journey as the metal scaled to an all-time high of Rs 16,900 per 10 gram at the bullion market here on Saturday.
Gold prices on Wednesday breached the Rs 16,000-mark for the first time in the bullion market.
Gold is likely to continue its bull run as monetary and fiscal stimulus programmes have failed to rejuvenate world economy.
Gold prices will continue to remain bullish and are expected to hover around Rs 16,000 this week as the US dollar is showing a weakening
trend amid a better demand for the metal in the domestic market, analysts said.
Gold prices are likely to hit a
new high of Rs 17,000 per 10 grams in next the 2-3 weeks due
to rising demand from investors and a weak US dollar, analysts
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