ZOID RESEARCH 27-MAR-2014 :GOLD

Gold prices declined by 0.5 percent and closed at a near six week low on stronger dollar. Decline in holding of SODR trust also led to decline in gold prices. However, the fall was limited and prices did not go below $1300 mark since Feb’ 2013. Precious metal also found support from strong physical demand from China as data showed that Chinese net imports from Hong Kong totaled 112.3 tonnes in February and nearly twice the import in the same month last year. The reason for more imports being Chinese government granting more bank license to import gold in order to meet high demand.

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