Monarch Networth Capital bullish on gold
Renisha Chainani of Monarch Networth Capital discusses with Manisha Gupta the current trend in commodities markets.
Gold has finally turned up, though the gold is trading around $1,200 from past one month in international market, said Chainani, adding that at multi-commodity exchange (MCX), the prices have risen around 5 percent on monthly basis from August 15 because of rupee depreciation.
"Now $1,200 is acting very strong support for COMEX gold and here I see that prices are getting rebound. So, the coming days would be again good for gold as we will see international prices rising though rupee is expected to trade in the range of 71-73 per dollar," he said.
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