Skip to main content

Gold Prices Slightly on Downside

Live Gold Trend

Gold futures prices on Tuesday extended losses in early trade on sustained offloading by speculators after it dipped to over two-year low overseas. Gold prices, which had been plummeting since last week, fell by another Rs 364, or 1.41 percent, to trade at a 19-month low ( lowest level since Sept 2011) of Rs 25,270 per 10 grams for delivery in June at the Multi Commodity Exchange ( MCX). 

Spot gold fell as low as USD1,321.35 an ounce and stood at USD 1,341.94, down USD10.81 per ounce while silver shed nearly 2 percent to USD 22.11 per ounce. 

GOLD- Rs 25,810, SILVER- Rs 46,150 
GOLD- Rs 27,600 / SILVER- Rs 48,000 

However, Indian investors need not be worried about a steep fall in prices. The 1980 crash in gold was not felt in India because the appreciation of the dollar against the rupee buoyed the domestic prices. The situation right now is similar, with the rupee having fallen against major global currencies
Labels:

Popular posts from this blog

Stock Tips Today

Our Target hits on our SBI Call which we posted before 3 days ago. Buy SBI At - 2220 for the Target of - 2240 & 2270 for day & tomorrow with Stop Loss - 2190.50 Sell Tata Motor(Intraday) At - CMP for Target of - 283.05 & 279.30 with Stop Loss - 288.50 Get daily Stock Intraday Tips, Nifty tips here
Post a Comment
Read more

LME - Copper Updates with MCX Copper Trend

Copper Updates London copper slipped on Wednesday, partially reversing gains of more than 1 percent in the prior session, as anti-austerity protests in Spain revived concerns over the euro zone debt crisis and the demand outlook for industrial metals. The protests in Spain, where the government is likely to set a fresh timetable for economic reforms later this week, highlight the country's financing challenges and stirred doubts among investors about whether it would have the political will to apply for an official bailout. Three-month copper on the London Metal Exchange was down 0.8 percent at $8,210.50 per tonne by 0705 GMT, after rising 1.1 percent in the previous session. In MCX Commodity expert feel copper, Rs 440 per kilogram is holding over the last couple of trading days despite the negative fundamentals. He believes that on the upside, the resistance near Rs 446 per kilogram remains strong.
Read more