Changes of Gold price have always been in the focus of economic and financial news.
India Ratings and Research (Ind-Ra) maintained a negative outlook on domestic gold prices for FY2015-2016 because of the US federal reserve effects a rate hike. The agency believes movements in gold prices will largely depend on the US interest rate decision. This agency also added stating that, if major global currencies, other than the US dollar, weaken because of economic concerns, even in the absence of a US rate hike there might be brief spells of simultaneous strengthening of gold price as well as USD.
The World Bank released its commodity forecast, which predicts that Gold price will fall from 1250 $/toz in 2017 to 1238 $/toz in 2018.
Note: (1 troy ounce (toz) = 31.1035 grams)