International gold price to fall to $1,200-$1,365 levels: Brokerages

Since last Friday, the price of gold in the international markets fell from $1,550 an ounce to around $1,415. The decline is consequent to unwinding of long positions in the yellow metal as investors reduced their exposure for more riskier assets. This change in portfolio allocation is a result of expectations of a recovery in the key developed markets, such as the US and Euro zone. Notably, brokerages expect the decline in gold prices to continue in the coming days. (Click on graphic)