SMR: Spot Gold prices touched a low of $1,123/oz on Monday
MARKET RECAP
Spot Gold prices ended in the red on Monday but the yellow metal closed above its low of $1123/oz as risk appetite reemerged. In the early part of the trade, gold prices were under pressure on account of concern that the Securities and Exchange Commission (SEC) accused Goldman Sachs of fraudulent practices.
OUTLOOK
Gold prices will trade with a positive bias today as the weaker dollar will make the yellow metal look attractive for holders of other currencies. But economic worries in the Euro zone coupled with the latest Goldman Sachs issue will dent investor sentiment in the later part of the week as these issues continue to haunt financial markets. But re-emergence of risk appetite today will help gold prices trade higher.