After record rally of more than 70% so far this year, the yellow metal fell 6.3% on the 21st, its biggest single-day fall in more than 12 years.
Profit-booking, trade talks behind slump
The sharp fall in prices is attributed primarily to profit booking and a slew of positive news flows which have shaved the sheen off the safe-haven metal. A key factor is the upcoming meeting of US President Donald Trump and China's Xi Jinping to iron out their trade differences. Other factors are a strong dollar and the likelihood of the ending of the US shutdown.
Analysts warn of short-term volatility
* Silver too registered a sharp fall of 7.8% - its worst since 2011 - on the 21st as the historic squeeze in
the London market began to ease
* Analysts warn of more volatility in the short term as the market is likely to correct further. On whether
the price of gold will fall below Rs.1 Lakh per 10 gms soon, one analyst said, it is difficult to predict
Rs 1,32,294 per 10 gms - the record price peak gold touched last Friday
Tailpiece.
Got up at 5, sent all the messages, switched on the hymns on the home theatre, lit up the puja room lamp and opened up the house for the day.
Sajish comes by to give me my haircut and massage.
Bath followed by a quick breakfast. Off to town for the following :-
* pick up the print outs of our tickets from Jimmy's
* give our clothes to the pressman as Selvam is away in Pondicherry on holiday
* to the bank to pull out money, clear my doubts from the Manager
* buy a charger for my new power bank
* collect our dues for the month from the ration stand
Worked on my laptop.
Lunch, followed by an episode of Crime Patrol and 'Snehakkoottu'.
Siesta.
The evening chores.
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