Gold is likely to head higher next week as the global equity markets continue to be jittery and the commodity is seen as a "hedge against inflation". The metal may slip to $918 an ounce in the initial part of the week and recover to $940 thereafter. The metal rose to a record $1,032.70 an ounce on March 17. The yellow metal hit a one-and-a-half month high of $937.5 on Tuesday. It then shed its gains on profit booking by the short-term traders. Gold is also set to move up on speculation that Israel will bomb the nuclear facilities in Iran, threatening oil supplies from West Asia. In terms of output, Iran ranks second among the member nations of the Organization of Petroleum Exporting Countries (OPEC). "There are limited avenues for the investors to park their funds. Gold and crude are the major areas about which the...
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