New Delhi, May 4 -- Gold prices are expected to remain on an upward trajectory in May, supported by seasonal demand trends, global macroeconomic headwinds, currency depreciation and supply-side disruptions, with a likely correction in July before festive buying resumes, Vandana Bharti, Head of Commodity Research, SMC Global Securities, told ANI today.

"For May, I am expecting an upside in gold prices. It is based on seasonality pattern... in the month of May, it will rise, in June it will rise, and in July prices will go down. When prices go down, people will get ready to buy at lower levels for the festive and wedding demand ahead," Bharti said.

She said gold is currently forming a base globally, with support near USD 4,520-4,600 per o...