Gold price slips to breach psychological barriers, reduces buying appeal

Sentiment looks positive with dollar index and equity markets rising

Gold slipped the key psychological barriers in both domestic and international markets amid concerns of strengthening the dollar and a rally in the stock markets which reduced the yellow metal’s safe-haven buying appeal.

Standard gold in the popular Zaveri Bazaar here slipped below the benchmark Rs 33,000 per 10 grams to close on Friday at Rs 32820 per 10 grams which revived buying sentiment albeit marginally. Gold prices in local markets have declined by over 2 per cent in the last one week.

Gold futures for delivery in April slipped to hit the lowest in five months at $1293.20 an oz on