Gold failed to go below 49,000 levels and is now back above 50,000. Support has come around $1,850 and now it is important for gold to move above $1,915. The recent correction is welcome in gold as it gives us opportunity to buy at lower level. Historically, we have seen that gold rarely sustains after 37 per cent rally so this correction was expected and we believe that the next catalyst for gold would be the US presidential election. In the short-term, USD movement is also crucial. Any strength in US dollar will keep pressure on gold prices and we