After staying range-bound, gold likely to trade with an upward bias in 2019

The rise in initial quarters may see bumps

After staying range-bound for several years, gold is expected to trade with an upward bias in 2019. 

A decade-long bull run in gold from 2001 to 2011 when it gained over six times, was followed by a 40 per cent decline by 2015. Since then it has traded in a range between $1,150 and $1,350 per ounce in international markets. In 2018, prices are still lower by 1.9 per cent in dollar terms but in India gold went up 7.9 per cent from Rs 29,240 to Rs 31,550 per 10 gm, due to rupee depreciation. 

Institutional investors globally, who were putting money