Gold demand in Asia Weakens Over Spot Gold Prices Rebound

The increase in the price of gold futures limit physical gold buyers demand from China and India, especially the majority of buyers have experienced a significant loss of domestic stock market crash.

So far the spot price of gold rebounded 0:27% at $ 1,137.01, after reaching the highest point at $ 1,141.84 intraday and daily lows at $ 1,132.81 per troy ounce. Technically, Gold is likely to play in the new trading range at around $ 1,130 up to $ 1,152 because of market sentiment in anticipation of delay interest rate hikes the Fed after the release of the FOMC minutes.

Overall Gold rebounded 6 percent after touching the lowest point 5 ½ years at the level of $ 1.077 per troy ounce in July last, due to the gold rally continued safe-haven demand amid sentiment Yuan devaluation.