Gold price outlook: After four consecutive weeks of gains, the gold rally paused and prices gave way to selling pressure while facing resistance around the psychological $1,800 per ounce mark. In the week gone by, MCX gold rates corrected more than 2 per cent whereas spot gold price dipped over 3 per cent. It was majorly the strength in the dollar index, which acted as a key headwind for the precious metal. The dollar index has retreated by around 3 per cent since testing lows of 104.63 mark, leading to this corrective wave in gold prices, and pushing them towards…
