Indian analyst sees further price falls in gold

Mumbai/ New Delhi, July 21 (ANI): Gold stabilised on Tuesday (July 21) holding just above a five-year low, but investors still see further price falls a day after the metal tumbled 4 percent. Reflecting losing interest in gold, holdings in top gold fund SPDR Gold Trust fell to the lowest since 2008. Analyst, Sunil Shah, said the gold prices were headed for a further fall in the months to come. Gold’s slide has helped wipe out half the gains from the last decade’s historic bull run, taking prices back to a key chart level and threatening a break towards $1,000 an ounce.

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