Gold hits 11-month low of Rs 27,000, should you invest

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Gold hits 11-month low of Rs 27,500, should you invest

Gold has gone down, MCX price of gold has nearly 1 per cent decline to Rs 26,500. Lower levels of the last 10 months. Here in the international market, is trading at four-month low.

While, at the Multi Commodity Exchange (MCX), gold for next month June delivery was down by 0.45 per cent to Rs 26,712 per 10 grams.

The prices of gold continued to decline and fell to close below the psychological barrier significant 27,000 rupees per 10 grams mark in the bullion market here today on domestic constantly selling by stockists and traders.

In addition, less demand for jewelers and retail and a weak trend in future trading market also weighed on the prices of gold.

Sentiments stayed bullish such as gold fell to 16-week low in overseas markets as positive economic data from the United States backed the case with the Federal Reserve to continue reducing the monetary stimulus measures that has eased the appeal of the metal.

KheloMCX Commodity Tips Advisory suggest to hold the contract and wait for stable the gold prices. Visit here for free gold investing help.

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MCX gold June contract slips 0.94% to Rs 27,225 per 10 gram

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MCX gold June contract slips 0.94% to Rs 27,225 per 10 gram

Gold and silver are under pressure today. In the international market, gold – silver business is sluggish. In the rupee weakness, but is still declining trend in gold and silver.

MCX Gold futures trading  down on Tuesday.  MCX gold June contract slips at Rs 27,225 per 10 gram, down Rs 251, or 0.94%. The gold rate hit an intraday high of Rs 27,525 and an intraday low of Rs 27,292. So far 3034 contracts have been traded. Gold prices have moved down Rs 364, or 1.32% in the June series so far.

Comex gold for August delivery fell to a session low of $1,285.40 a troy ounce, the weakest level since May 21, before trimming losses to last trade at $1,286.40 during European morning hours, down 0.43%, or $5.50.

 

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MCX gold June futures trades up at Rs 27375 per 10 gram

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MCX gold June futures trades up at Rs 27375 per 10 gram

MCX gold June futures was trading at Rs 27375 per 10 gram, up Rs 26, or 0.10 percent on Monday. The gold price hit an intraday high of Rs 27,408 and an intraday low of Rs 27,292. So far 2337 contracts have been traded. Gold prices have moved down Rs 303, or 1.10 percent in the June series so far.

In the international market gold price remains above $ 1290. U.S. markets remain closed today, so the volume is extremely low.

Comex, gold for June delivery traded at $1,291.80 a troy ounce, down 0.01%.

For daily based free gold futures 90% accurate trading ideas on MCX and NCDEX get us on here: KheloMCX.com

MCX gold June futures higher on global cues

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MCX gold June futures higher on global cues

MCX gold June futures was trading higher by Rs 63, or 0.23 percent at Rs 27310 per 10 gram. The gold prices hit an intraday high of Rs 27520 and an intraday low of Rs 27225. So far 6175 contracts have been traded. Gold prices have moved down Rs 358, or 1.29 percent in the June series so far.

While, MCX gold August contracts moved up by Rs 79, or 0.29 per cent, to Rs 27,230 per 10 gram.

Analysts said that the precious metal recovery in the overall market largely helping gold to expanded trade in futures trade here.

Meanwhile, gold rose to $ 1,292.45 an ounce from yesterday USD 1292.04 an ounce in Singapore.

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Global gold, silver mine production set to reach record highs in 2014

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Global gold, silver mine production set to reach record highs in 2014

Global gold and silver mining production is set to reach record high levels in 2014, says a report.
International goldmine delivery continued to expand in 2013, reaching a new high of 96.7 Moz (over 4 per cent on year), says that gold and silver mining Focus Metals Report 2014, a precious metals consultancy.
Silver mine supply also increased in 2013, reaching a new high of 818.1 Moz (more than five cents per year).

Both of precious metals continued to benefit from the acceleration and implementation of projects aimed before.

For gold, the significant growth appeared in China (the world’s largest producer), whereas there was a significant increase in the Dominican Republic, Canada and Russia. Silver production increased due to a range of additions in various producing countries biggest silver of the world, including Peru, Mexico and China.

It is expected that the supply of mine gold rising again this year, however, starting in 2014, seems uncertain, the report says.

“Since 2015, the production of gold could entered a period of secular decline,” he said.
On the contrary, it is expected that the supply of silver to be either positive as more earnings are expected until 2016 at least, albeit at a lower rate than over recent years. Speaking of prices, the report notes that after a poor 2013, the beginning of this year suggests that attitudes towards gold and silver investors have been moving away from selling a single side of a more balanced perspective .

“We see 2014 as a year of consolidation broadly for gold and silver. We believe that a maximum of the year is behind us and, while on the downside, further price weakness of existing levels is possible” report added.

For The Gold thus, a short drop in about USD 1100 could not be discarded, said the report.
For silver also partly ruled by the movement of gold is expected that the average all year can fall just under USD 20.

Physical demand for gold is likely to moderate in many key consumption markets this year, it added. “We expect worldwide volumes are kept high. As such, the Gold Souk is projected to record a new structural deficit in 2014, providing certain support to prices for the rest of the year.”
By 2014, improvements from last year on the balance of supply and demand for silver would it be possible slightly as the world supply continues to rise while the overall demand slides back.

The major change, to on both sides of the market, are expected to physical investment. Output is forecast to physical investment falling by around 11 percent, which it is probably liable for the future development increasingly shaped range for the remainder of 2014, the report added.

KheloMCX Research Services an Indian based bullion (gold, silver) trading advisory company. For any assistance about bullion market or trading help visit today: KheloMCX.com

MCX Gold June futures fell by 1.10 percent to Rs 28,096 per 10 grams

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MCX Gold June futures declined 1.10 percent at 28,096 rupees per 10 grams today because participants turned over to the reduction in exposure, largely at par with a global trend.

MCX Gold June futures fell by 1.10 percent to Rs 28,096 per 10 grams

At MCX, gold for June delivery fell by Rs 312, or 1.10 percent, to trade at Rs 28,096 per 10 grams.

GOLD rate hit an intraday high of Rs 28,351 and an intraday low of Rs 28,060. So far 2231 contracts have been traded.

Globally, gold lost up 0.68 percent to $ 1,296.80 an ounce in New York last night. Analysts said apart a weakening trend overseas, appreciating rupee against the U.S. dollar, making cheap imports, also placed strain on gold prices in futures trading.

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MCX Gold June, August contract slips in future trade

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Gold prices on MCX were trading down on Monday in early Morning trade. MCX Gold August contract was trading at Rs 27820 down Rs 96, or 0.34%.  MCX Gold June futures prices trading down by 0.31% to Rs 28,436 per 10 grams.

MCX Gold June, August contract slips in future trade

Gold price hit an intraday high of Rs 28474 and an intraday low of Rs 28350. So far 1066 contracts have been traded. Gold price hit an intraday high of Rs 27850 and an intraday low of Rs 27813. So far 51 contracts have been traded.

Globally, gold decline 0.70% to $ 1,280.02 an ounce, the lowest price level since May 2 in Singapore. Analysts said that a weakening trend overseas amidst speculation the U. S. Fed will continue to reducing the monetary stimulus weighed heavily on gold prices in futures trading.

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