BS: Gold Price Under Pressure Of The Dollar Rate And India Interest Rate
Gold rates may go down because of the dollar strength and the increase in the interest rates in India.
The concern about the Greek debt pushes the Dollar against the euro and it keeps the gold low. Another source of pressure on the gold price is the announcement of the Indian reserve bank on the change of of the reverse- repurchase rate from 3.25 to 3.5
It is reasonable to assume that more countries will follow India.
The gold rate this morning in London was $1,107.10 an ounce. In New York it was $1,106.90
