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Gold prices are recovering, but are continuing to see pressure due to global factors, says Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd. Here’s his analysis:
Bank of America keeps a cautious gold outlook, expecting prices to struggle above $4,000 an ounce as weak physical demand, slowing central bank buying and a hawkish Fed offset resilient ETF inflows.
Today, October 12th, analysts are leaning towards the possibility of gold prices rising this week after a volatile trading week. SJC gold bars closed last week at 141.8-144.8 million VND/ounce.