Gold Up 7% This Month: Current Pricing Offers Right Entry Pt. For Long Term Investment

After seeing a sharp fall, gold prices from Rs. 44800 on April 1 to Rs. 48085 today (April 21) on the MCX have gained over 7 percent in April alone. At present what is supporting rise in gold price is retreating levels of US treasury yields as well as softer dollar."The U.S. dollar had edged lower this morning, supporting prices, with gold's upward momentum from overnight continuing in Asia," OANDA senior market analyst Jeffrey Halley said.

"Providing that U.S. 10-year yields remain softer, gold appears to be gathering strength for a test of the 100-day moving average at $1,802 an ounce in the days ahead."

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