Gold Investment joy as Indian stocks extend gains on US dollar
The opportunities inherent in Gold Investment have again been highlighted by the extension in gains of Indian gold futures on the weaker US dollar.
The extensions made by those Investing in Gold have been aided by the euro's recent upturn, suggests Pranav Mer, an analyst with India Infoline, a reputed Indian financial services commentator, according to Reuters.
He told the news provider: "Gold would be supported as the euro is recovering. Buying is recommended on a dip to 16,800/16,900 rupees, with a stop loss below 16,700, targeting 17,300 rupees."
Gold Investment advances such as those experienced in India could be seen worldwide, if predictions are to be believed.
Indian Express has suggested that Gold Prices might continue to rise following the 25 percent increase seen in 2009, with a succession of the factors that contributed to the precious metal's bull market remaining in place.
The World Gold Council backed up such a stance, stating: "We expect absolute levels of investment demand in gold to remain strong."
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