Global interest rates are likely to go even lower before they rise as financial market volatility and the spectre of deflation raise fresh doubts about central banks' ability to fulfil their mandates, policymakers and economists said.
India's latest attempt to curb the country's love for gold - by forcing buyers of high-value jewellery to disclose their tax code - has boosted unofficial trading in the world's second-biggest gold consumer, rather than promote transparency and dent demand.
U.S. gold for April delivery GCcv1 was flat at $1,127.70 an ounce.
The market has opened sharply lower following correction in global peers and crude oil prices. The Sensex fell 254.69 points or 1.04 percent to 24284.31 and the Nifty declined 82.80 points or 1.11 percent to 7372.75.
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