Gold traded higher in previous session, supported by a softer dollar and expectations of further buying by investors worried about financial stability and looking for a safe place to park assets.
Gold is considered as a safe haven asset and investors move towards it and dump higher yielding and risky assets.
The dollar hovered near a 15-year low against the yen, weighed down by a slide in U.S.
Treasury yields, putting the focus on whether Japanese authorities will take any measures to curb the yen's rise. There was some physical buying from top consumer India as demand is likely to pick up ahead of festival season.
As the metal is in overbought zone so , so we expect some correction from the present levels and yellow metal may touch Rs.1850/gm levels in short term.
