It is important to note that Gold has an important support at $1,530/oz in International market and till the time this support is held one need not get perturbed. However gold encounters resistance at the level of $1,570/oz.
As of now gold is set to incur its 4th month of losses which has not been seen in nearly 13 years. Interestingly while gold in dollar term is off 6% in May, the sharp fall in the euro means that gold has again risen in euro terms and is up 0.3% in euro terms in the month.
However investors in gold/coins need not panic as gold will always remain a safe heaven till the time high inflation and economic turmoil is seen in the market.
(Updated as on 03 May 2012)
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