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Gold can consolidate in a range

Gold prices managed to claw-back after declining in the initial part of the week. The global spot gold prices fell to a low of $1,386 per ounce and reversed sharply above the psychological level of $1,400. Gold surged to a high of $1,427 and came-off slightly from there to close the week 1.2 per cent higher at $1,415.75 per ounce.

The US Federal Reserve hinting for a rate cut in the near future helped gold prices reverse higher in the past week.

Silver, on the other hand, traded high all through the week. The ...

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