Gold heading towards no man's land

On the MCX, till last Thursday, open positions in gold were the lowest after November last year

Prices of gold could be heading into uncertain territory, for various reasons.

Subsiding geopolitical issues and the certainty of a rise in US interest rates next month makes it difficult to rise in the medium term, say experts.

The yellow metal fell to $1,221 an ounce, a two-month low. Silver fell sharply to $16.3 an oz in the US Comex division of the ICE exchange on Friday. In a month, gold is down 2.7 per cent; silver is down 10.8 per cent. Currently, gold is trading at $1,233 and silver at $16.4. 

In India, gold is down 3.5 per cent over a month,