This trend of oil sliding and also taking gold down still continues. As there are no signs of recovery , liquidation by funds is likely to continue. Gold is seen as hedge against inflation rise and so when oil drops gold is bound to drop as the precious metals demnad declines.
According to Research analysts , gold is likely to decline to $535-540 an ounce level in the next two - three weeks. Hence showing that Oil is likel to decline too.
Even though Asia is a lucrative place for gold to increase , however it is seen that in India especially gold fell 15 rupees to 8,718 rupees per 10 grams , even though the festive season is ongoing in the region.
I feel that gold will decline but may not as much as $535-$540 an ounce as predicted by some Analysts.
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