After a rally in gold that led to the international prices zooming to $1030 an ounce, will gold price reverse direction based on Wednesday's price level of $940?
Major Ajay, a financial astrologer who predicted a week ago that a "vertical fall in bullions and metals are expected from March 19" has been proved true. "My prediction has indeed come true," he told
Commodity Online. He said silver will follow gold whose support levels are at US $980-965 upto March 25.
Last week Tobias Merath, head of commodity research at Credit Suisse in Zurich, said that the combination of dollar weakness, negative real interest rates and surging inflation was the ideal environment for rising gold prices.
However, he had warned that the gold price rally was entering a more mature phase and further