Gold prices reversed its downward spiral on Thursday. The price of 22 carat of gold stood at Rs 46,400 per 10 grams as against its previous close of Rs 46,000. Meanwhile the price of 24 carat of gold was also trading higher. The price of 24 carat of gold stood at Rs 50,620 as against its previous close of Rs 50,180.
Gold price has shifted into a corrective phase in the Asian session after displaying a juggernaut vertical upside move on Thursday. The precious metal has faced barricades around $1,720.00 as the US dollar index (DXY) has remained upbeat on Friday. Earlier, the bright metal sensed a responsive buying action after printing a fresh 11-month low of $1,680.94. Usually, a responsive buying action indicates that investors have considered the asset a value bet and have channelized significant bids.
Panthera Resources Plc (LON:PAT) was incorporated in the UK and Wales in 2017. The company is focused on its gold exploration and development projects in India and West Africa and the optimisation of other mineral projects.