MCX Gold October futures contract rise by 0.4 per cent on short-covering

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Gold futures up

The prices of gold were trading in MCX marginal profit on Friday. Gold prices rose grams in futures trading on Friday as profiteers committed covering up their pending short positions even as metal weakened near more than 1-month lows on global market.

At Multi Commodity Exchange, gold October futures contract was up by Rs. 113, or 0.41 per cent, to Rs. 27,880 per 10 grams. Gold price hit an intraday high of Rs 27888 and an intraday low of Rs 27791. So far 123 contracts have been traded in Exchange.

In the US Exchange, gold for August delivery was quoted at $ 1,293.20 a troy ounce during European afternoon trade, adding 0.19%.

Gold prices has often had be negatively correlated with the stock exchange and often has served as a hedge against inflation and currency volatility. But as gold investment, it is important to remember what kind of assets is well publicized, and what is not. Commodity Advisory in India KheloMCX provide gold tips, MCX tips and live prices updates.

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Gold October futures prices steady above Rs 28,065

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Gold October futures prices steady above Rs 28,065

Gold October futures were trading steady on Wednesday after the previous day’s drop, supported by simmering conflict in Ukraine and the Middle East.

At the Multi Commodity Exchange, Gold August futures contract was trading at Rs 27,914 up Rs 21, or 0.07 percent. Gold price hit in morning session an intraday high of Rs 27978 and an intraday low of Rs 27911. So far 1231 contracts have been traded.

Slow physically demanding in Asia in the period in tranquil summer season is also weakening support for any price rises. Other than seasonality, the opportunity to a further fall in prices due to improved economic prospects in the United States and the stronger dollar is also maintaining buyers away, said, commodity advisory KheloMCX.

Whereas on the other hand, the safe-haven demand fed by renewed tension in Libya will support gains in MCX gold prices at futures market.

At U.S. Comex Exchange, Gold August futures delivery eased up 0.08%, or $1.00, to trade at $1,307.70 a troy ounce during European morning hours.

Spot gold was at $ 1307.10 an ounce at 0950 GMT,range with little change from $ 1,307.00 on Tuesday night.

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Gold prices on MCX were trading higher on global ques, as safe-haven amid on Ukraine, Gaza tensions

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Gold prices on MCX were trading higher on global ques, as safe-haven amid on Ukraine, Gaza tensions

Gold prices rose at MCX in futures trading today as profiteers established new positions in the positive signals originating from the global markets on Monday, as concerns about the ongoing tensions in Ukraine and the Gaza Strip continued to buffer sentiment risk and increase demand for safe haven assets.

At the Multi Commodity Exchange, gold futures for delivery in far-month October was trading higher at Rs 28014 up Rs 48, or 0.17 percent. Gold price hit an intraday high of Rs 28034 and an intraday low of Rs 27999. So far 58 contracts have been traded in morning trade session.

Said commodity analysts at KheloMCX,  further positions created by participants, following a firming tendency in the global marketplace trade as investors weigh the outlook for largest US safe providers amid turmoil in Ukraine and Gaza shores the demand for a safe-haven assets, influenced the prices of gold futures trade here.

Also on the Comex, U.S. Exchange, gold August futures delivery was quoted on 0.35%, or $4.60, to trade at $1,314.00 a troy ounce during U.S. morning hours. Prices held in a tight range between $1,308.00 and $1,314.80.

In a measurement of the investor confidence, holdings of SPDR Gold Trust rose at 1.8 tonnes to 805.14 tonnes on Friday.

Profiteers, however, reduced bullish bets on US gold futures and options in the week ending July 15 for the first time in six weeks, as prices plunged.

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Gold October futures contract trades higher on MCX amid signs of increased demand in China and India

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Gold October futures contract trades higher on MCX amid signs of increased demand in China and India

MCX gold futures prices were trading higher on Thursday. MCX Gold October futures contract was trading at Rs 27,808 to up by Rs 171, or 0.62 percent. After after hitting a morning session intraday high of Rs 27820 and an intraday low of Rs 27718. So far 89 contracts have been traded.

At the Multi Commodity Exchange, yellow metal prices for delivery in next-month August gained by Rs 114, or 0.41%, to Rs 27,790 per 10 gram.

KheloMCX commodity experts ascribed profits in precious metal futures trading to a firming trend in overseas markets amid signs of increased demand in China and India, two largest consumers worldwide.

The price of U.S. gold market dropped slightly with remarks by Federal Reserve President Janet Yellen being digested for clues on the moment of the highest rates.

In Comex U.S. Exchange, gold futures for delivery in August quoted at $ 1,299.40 a troy ounce, down 0.03%, after hitting a session intraday low of $ 1294.10 and a intraday high of $ 1304.30.

Yellen told senators during a hearing Tuesday that interest rates could go up sooner or later if the labor market continues to improve, especially considering its observations that small capitalization, momentum and other biotech equity valuations seem “drawn “these days.

Spot gold was rose 0.2 percent to $ 1301.51 an ounce at 0307 GMT, after rising 0.4 percent in the previous trade session, breaking mostly two-day drop since December. The metal slid to a four-week low of $ 1291.70 early this week.

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Gold biggest single-day drop in nearly 7 weeks on stop-loss selling

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Gold biggest single-day drop in nearly 7 weeks on stop-loss selling

Gold dropped 1.5 percent on Monday in its biggest daily drop in almost seven weeks by selling stop-loss orders as Asian share markets gained momentum.

At the Multi Commodity Exchange, gold for delivery in August fell by Rs 242, or 0.86%, to Rs 28,112 per 10 grams.

Spot gold was dropped to 1.6 percent to $ 1,317.00 an ounce and was at $ 1,318.11 by 0705 GMT.

On U.S. Comex Exchange, gold futures for delivery in August dropped 1.23% to $ 1321.10 per troy ounce.

Gold rose greater than 1% to hit $ 1346.80 an ounce on Thursday, the most since 19 March, as concern about the fiscal stability of the greatest Portuguese lender Banco Espirito Santo unleashed fears about the risk of spread and provoked a strong selloff in the equity markets.

“Gold has come under pressure around the clock as equities have recovered some of the losses from last week,” said a KheloMCX trading advisory of precious metals.

“There were some afterwards U.S. gold futures was raped stops caused $ 1,328, the price at which gold was trading at prior to the high turnover on Thursday,” KheloMCX said.

The fears have vanished now, with Asian shares gain on Monday as investors set aside worries over the euro zone banks and look forward to corporate earnings and a series of global economic developments.

Gold prices declined on Friday, but the precious metal gains of 1.2% or $ 16.10 an ounce last week, the sixth consecutive weekly gain further said.

Investors sold gold on Monday before the start of the U.S. corporate-earnings season. Market players were likewise awaiting testimony to Congress by Federal Reserve President Janet Yellen, later in the week.

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Gold futures prices fall 0.67% at Rs 28,300 on profit-booking

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Gold futures prices fall 0.67% at Rs 28,300 on profit-booking

Decline in gold prices in the domestic market. Yesterday, gold had gained close to 800 bucks. Of course, after the bank crisis in Portugal, raising concerns again about the economic health of Europe and in the international market price of gold has jumped. The domestic prices have double support. But today is a strain in silver with gold in the domestic market.

At MCX Exchange, gold futures delivery in August prices fell by Rs 190, or 0.67%, to Rs 28,300 per 10 grams.

Instead U.S. Gold futures edge for delivery in August quoted at $ 1,337.40 a troy ounce, down 0.13%, after hitting a session low during the night of $ 1325.40 and a high of $ 1,346.10.

Spot gold was rose 0.1 percent to $ 1336.36 an ounce at 0028 GMT, after closing 0.7 percent on Thursday, when it rose to a high of $ 1.345 – the highest since the metal March 19.

Gold has gained more than 1 percent this week in the global marketplace. The sixth weekly gain is longest win streak of gold from Feb to Mar, when he had a similar event.

KheloMCX.com said the drop in Gold futures edge was mainly due to profit booking by profiteers after recent earnings. A firming trend in overseas precious metal in the increased tension in the Middle East also stepped up safe-haven demand.

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MCX Gold August futures around Rs 27500 levels: KheloMCX Advisory

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MCX Gold August futures around Rs 27500 levels: KheloMCX Advisory

KheloMCX commodities advisory has gotten away with its report over precious metals. According to the market research firm, today MCX Gold August will trade around Rs 27,500 levels.

In the evening trade hours, MCX gold August futures contract was trading at Rs 27,581  up Rs 92, or 0.33 percent. Gold price hit an intraday high of Rs 27587 and an intraday low of Rs 27381. So far 3884 contracts have been traded.

KheloMCX also added, a weak tendency into foreign markets trade as investors weigh the outlook for interest rate policy of U.S. mainly weighed on gold prices in futures trade here.

On the other hand, U.S. gold for delivery in August be inserted at 0.22%, or $ 2.90, to trade at $ 1319.90 a troy ounce during early European morning hours. Prices are steady within a narrow range between $ 1,317.70 and $ 1,321.20 an ounce.

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