Saturday, 22 March 2014

PRECIOUS METALS TIPS March 24, 2014

DAILY BUZZ
GOLD
  • Gold futures prices today moved down by 0.84 per cent to Rs 29,730 per 10 grams, after participants offloaded partial positions, taking weak cues from the global market.
  • At the Multi Commodity Exchange, gold for delivery in April eased by Rs 251, or 0.84 per cent, to Rs 29,730 per 10 gm in business turnover of 6,400 lots.
  • Likewise, the metal for delivery in far-month June shed Rs 211, or 0.72 per cent, to Rs 29,212 per 10 gm in 573 lots.
  • Market analysts said a weak trend in the overseas markets after the US Federal Reserve hinted that it will raise interest rates sooner-than-expected and a subdued demand at domestic market, put pressure on gold futures here.
  • Globally, gold fell 0.29 per cent to $1,326.70 an ounce in London today.

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