It will rest on the situation in US. Broadly, the technicals for gold remains bearish short term. If the situation in US turns nasty, gold may be liquidated and there will be selling pressure for gold. Then again, a short term upward spike due to the change in environment is also entirely possible. It may have to cross the 1360 target for that possiblity. Otherwise if the downward trend overpowers the bulls, it may reach the vicinity of 1163. For equities, there will be volatility and some whip sawing is expected. Risk management is critical at this junction.
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