The price of gold is expected to test levels from $2,060 to $2,090 per ounce, and on any correction if $2035 holds, the prices may target $2,115 level in the current up-move, as per a report by Emkay.
If US interest rates fall further and bond yields ease, more money will start flowing into emerging markets. As the worlds fastest-growing major economy with a massive demographic dividend, India is likely to be one of the favourite markets for institutional investors.
A key rate decision from China meanwhile took centre stage in Asia, where expectations are for Beijing to leave lending benchmark rates unchanged at a monthly fixing on Monday.