Gold Rises For Second Day On USD Weakness And Rising Demand From India

Gold is flashing green in Asia and is attempting a break above the psychological hurdle, possibly on the back of the losses in the US dollar.The US dollar exchange rate, as represented by the dollar index (DXY), fell to a low of 94.90 earlier today, having dropped 0.64 percent yesterday. The metal may remain well bid during the day ahead, although if the DXY picks up a bid on haven demand, then gold could trim gains. It is worth noting that in the recent past, the US dollar has strengthened during the bouts of risk aversion. For more information Visit : www.dollaradvisory.com and Call : ✆ +91 9111179961