Thursday, 20 February 2014

MCX Gold Tips for February 20, 2014

GOLD

  • Gold prices moved down by 0.41 per cent to Rs 29,650 per 10 grams in futures trade today after participants offloaded partial positions on weak cues from the global market.
  • At the Multi Commodity Exchange, gold for delivery in far-month June declined by Rs 122, or 0.41 per cent, to Rs 29,650 per 10 grams in a business turnover of 15 lots.
  • Likewise, the metal for delivery in April shed Rs 112, or 0.37 per cent, to Rs 30,109 per 10 grams in 366 lots. 
  • Market analysts said a weak trend in the overseas markets amid expectations that Federal Reserve minutes will show policy makers backing further stimulus cuts, mainly weighed on gold futures here.
  • Globally, gold fell 0.40 per cent to $1,316.91 an ounce in Singapore today.

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