GOLD
Gold
prices fell by 0.16 per cent to Rs 26,678 per ten grams in futures
trade today as speculators indulged in trimming positions in tandem
with a weak global trend.
At
the Multi Commodity Exchange, gold for delivery in December fell by
Rs 43, or 0.16 per cent, to Rs 26,678 per ten grams in a business
turnover of 409 lots.
Similarly,
the metal for delivery in February 2014 contracts lost Rs 21, or 0.08
per cent, to Rs 26,883 per ten grams in a business turnover of just
one lot.
Analysts
attributed the fall in gold futures to trimming of positions by
speculators in tandem with a weak global trend as the dollar advanced
towards a four-year high, reducing demand for precious metals as an
alternative investment.
Meanwhile,
gold fell 0.4 per cent to $1,203.02 an ounce in Singapore in early
trade today.
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Nickel fell for the first time in four days, leading most industrial metals lower, after a gauge of economic strength in China pointed to a slowdown and the International Monetary Fund cut its global growth forecast.
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LEAD (31 OCT.) TREND: CONSOLIDATE
ReplyDeleteRES 1: 125.50
RES 2: 126.50
SUPP 1: 122.50
SUPP 2: 121.50
STRATEGY: SELL ON HIGH
MCX tips
These given updates for gold is very helpful in trading as they are generated after proper research.
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