RiddiSiddhi Bullions Ltd
CORPORATE/BULLION 'GOLD HANGS AROUND THE FISCALL CLIFF'- Mr. Prithviraj Kothari, MD,RiddiSiddhi Bullions Ltd Nov 12, 2012 Gold slid 2% in heavy last fortnight, breaking below $US1690 an ounce for the first time in about two months as an encouraging US nonfarm payrolls report lowered expectations for economic stimulus provided by global central banks. Gold slid to an eight-week low as the dollar jumped after data showing higher-than-expected US job creation However, last week opened with an upsurge movement for gold. Gold was up by almost 400 rupees and was seen trading at INR 31,100 on Monday. Predicting an Obama win on November 6th resulted in onside upward movement for gold and silver. On Tuesday, the most powerful man of the World was re elected: US President Barrack Obama. As we see him march towards his second term, we expect the commodities market to march upwards too.On Wednesday, gold prices spent some time weaving in and out of positive ...