AGRI-BUSINESS: Gold may test resistance levels.

from BUSINESS LINE, October 27, 2008 Gold futures, ended higher on Friday as equities tumbled worldwide, boosting demand for the precious metal as a safe-haven. Gold is expected to fare better than other commodities as a global slowdown reduces demand for raw materials. There are many possible reasons for the slide in gold prices, including the suddenly firmer dollar, because gold is priced in dollar terms. Some financial institutions are unwinding commodities bets as they reduce leverage and shore up capital. India, a big consumer of gold, recently has shown signs of sluggish buying as the rupee depreciated against the dollar, making gold more expensive for Indian jewellery …