Gold may fall further to $3,750, Mirae Asset Sharekhan says
In short
Gold may keep falling in the short run and could test support near $3,750, according to Mirae Asset Sharekhan.
The call matters because it points to more weakness for gold prices before buyers may step in at that level.
What the reporting says
Gold prices may extend their decline to test support around $3,750, according to Mirae Asset Sharekhan. The market view cited gold as oversold in the short run, suggesting the metal could still weaken before finding support.
Why it matters
Mirae Asset Sharekhan said gold may extend its short-run decline and test support around $3,750. The view suggests traders and investors in bullion could face more downside near term after the metal was described as oversold.