Mr. Prithviraj Kothari, MD – RSBL – Gold tend to move sideways
The main reason behind this price pick up was an extremely high physical demand for the yellow metal world over. In Asia particularly in Hong Kong, Singapore, Indonesia, Thailand and India gold was being sold at high premiums. Some analysts have described this as pent-up demand in which buyers pounced when presented with lower prices. This helped gold rise for the week.
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