Gold has been traditionally used as a hedge against inflation, political instability as a safe bet for the times of crisis. With Euro again strengthening against Dollar, International rates of Gold are likely to rise further. Estimated 1900$ level by year end and Rupee strengthening to 51 against Dollar, we may be seeing a rise of Rs 2500 to 3000 per 10 gms from today's levels by year end.
So I assign following levels to gold
September 1720$/ounce Dollar Rs 54 Hence Gold in Indian terms 31800
October 1800$/ounce Dollar Rs 53 Hence Gold in Indian terms 33000
November 1850$/ounce Dollar Rs 52 Hence Gold in Indian terms 33000
December 1900$/ounce Dollar Rs 51 Hence Gold in Indian terms 33800
So I assign following levels to gold
September 1720$/ounce Dollar Rs 54 Hence Gold in Indian terms 31800
October 1800$/ounce Dollar Rs 53 Hence Gold in Indian terms 33000
November 1850$/ounce Dollar Rs 52 Hence Gold in Indian terms 33000
December 1900$/ounce Dollar Rs 51 Hence Gold in Indian terms 33800
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