Based on the US Federal Reserve plans to trim its monthly bond purchases, investors seem to be moving into equities again leaving the yellow metal. This will drive the present 1200 USD per ounce price of gold to new lows in the next quarter, analysts are predicting. This new low could be any where near 1080 USD, they say.
Prices in India, how ever, have remained steady, not reflecting the international scenario. They are at about 1400 USD per ounce because of the import curbs and 10% duty the government has imposed on the most cherished metal. Demand for gold has been declining in China too and it is expected to decline further as the imports from Hong Kong have already fell by 42%.