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The Gold price in India is currently $1,387.00 per ounce and has been on an uptrend since the start of year after breaking above a descending trend line off 2016 highs at $1115/ozt. This break occurred amid strengthening physical demand across Asia but perhaps more importantly heavy selling pressure into SPDR’s GLD ETF which last week saw its lowest level of holdings for 27 months suggesting that investors are no longer interested in owning gold as part of their portfolio or diversifying risk with exposure to gold mining companies through equity indices such as MSCI ACWI ex-US whose total return was negative over 12 month period despite significant gains from global markets during the same time frame
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