100McxTips- MCX Commodity Market Gold Tips Provider
  • Blog
  • Home
  • About Us
  • Contact Us

Indian Stocks & MCX Commodity News

Traders get all the sell-buy trading tips and mcx commodity news here.

Domestic gold price hits 10 month low at Rs 27,000

5/28/2014

0 Comments

 
Picture
Gold prices in the domestic market has come to a low of 10 months. The MCX gold is trading below Rs 27,000.

The prices of gold dropped by more than 0.42 percent at 26,844 rupees per 10 grams in June futures trade today as profiteers engaged in cut positions in tandem with a weak global trend where precious metal fell to over a 15-week low.

The gold rate touched an intraday high of Rs 26,970 and an intraday low of Rs 26,810.

100McxTips Commodity Advisory said, " In the international market gold touched a three-month low of. Gold prices in the international market is under $ 1265. Support of $ 1270 was down yesterday. The recovery in the U.S. economy and the growing a decrease in demand on gold pressure. It is believed that gold could break even level of $ 1,200.

At Comex gold for August delivery fell to a session low of $1,261.30 a troy ounce, the weakest level since February 7, before trimming losses to last trade at $1,264.70 during European morning hours, down 0.08%, or $1.00.

"A weakening trend in the foreign markets where gold fell throughout 15-week low as encouraging economic data from the United States backed the case of Federal Reserve to keep reducing of monetary stimulus, as demand in China showed signs of decline, weighed on precious metals in futures trade here.", 100McxTips added.

Get more Indian bullion & Yellow metal market news & updates with 100McxTips.  Follow our latest gold market tweets @100mcxtips and Like our Facebook profile page : https://www.facebook.com/100mcxtips
0 Comments



Leave a Reply.

    Archives

    May 2014
    October 2013
    September 2013

    Categories

    All
    Commodity
    Mcx
    Stocks
    Trading

    RSS Feed


Powered by Create your own unique website with customizable templates.