Gold futures trades extremely short range around Rs 27,200

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Gold futures trades extremely short range around Rs 27,200

Gold declined in the domestic market, today. As soon as the initial strength of the rupee against the dollar lower, gold in the domestic market has become positive. FOMC meeting yesterday, the international market is sluggish and gold is trading at extremely short range around Rs 27,200.

The perspective of gold this week will depend on a policy meeting by the Federal Reserve when it is widely expected that the central bank of the United States to end its bond-buying incentive, said KheloMCX.com commodity experts.

Stocks reached their highest within two weeks now, since none of the largest banks in Europe did not drive by the European Central Bank stress tests. It is hoped the Fed to end purchases of assets in its monthly meeting 28-29 October. Traders have pushed back estimates for when the Fed will raise interest rates in the US, while regulators expressed concern that the economy may be at risk of a global slowdown.

Amidst all of the world’s largest gold traded fund SPDR fell to the holding 745 tons, which is the lowest level of the past 6 years.

Gold futures for delivery in December lost 0.1 percent to $ 1230.10 an ounce on the Comex in New York. Bullion for prompt delivery was little changed at $ 1230.01 in London.

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MCX Gold futures decline on profit-booking amid a weak global trend

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MCX Gold futures decline on profit-booking amid a weak global trend

After yesterday’s rally in gold and silver has begun to pressure. MCX gold looks around 0.2 per cent decline to Rs 27,500. At MCX futures trading today, speculators booked profits at prevailing levels amid with subdued global trend.

At the Multi Commodity Exchange, Gold futures delivery in December declined by Rs 63, or 0.23%, to Rs 27,498 per ten grams.

“The prices of gold and silver traded higher yesterday on signs of higher demand in India, the largest user after China, boosted by Diwali festival and wedding season. For MCX bullion are expected to trade down remain in a weak worldwide trend”, says commodity experts KheloMcx.com.

The price of spot gold edged up 0.2 percent to a up to six weeks rose above $ 1,250 an ounce on Tuesday, boosted by profits from commodities and broadly based concerns about a financial downturn in China.

Comex gold futures for December delivery traded at $1,249.30 a troy ounce, down $2.40, or 0.19%. A day earlier, gold prices hit a six-week high of $1,255.60 an ounce.

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Gold futures rise on a firming trend, amid festive season buying

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Gold futures rise on a firming trend, amid festive season buying

Prices of MCX gold futures gained on Tuesday by a firming trend in overseas markets and a reassuring trend in the domestic spot market on the back of the Dhanteras festive buying season.

At the Multi Commodity Exchange, Gold December futures delivery was trading at Rs 27562 up Rs 147, or 0.54 percent. Prices of Gold touched an intraday high of Rs 27572 and an intraday low of Rs 27462. So far 1640 futures contracts have been traded in morning session.

Gold rallied to the highest by more than five weeks in London since the dollar weakened and the merchants pushed estimates for as the US Fed will raise interest rates. Gold for immediate delivery rose 0.4 percent to $ 1251.63 an ounce at 09:46 am in London. Gold for December delivery gained 0.6 percent to $ 1,251.60 on the Comex in New York.

SPDR Gold Holdings ialso fell 8.9 metric tons to a five-year low of 1,658.4 tons yesterday

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MCX Gold December Futures trades higher at Rs 27,555 up Rs 306, or 1.11 percent

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MCX Gold December Futures trades higher at Rs 27,555 up Rs 306, or 1.11 percent

Gold futures prices on MCX traded higher on Thursday. Today, Indian rupee weakened sharply against the dollar, after India’s trade deficit widened on higher oil and gold imports. Global equities markets fell, dragging down the local currencies.

“In the domestic market, gold and silver have gained momentum today. At MCX with a gain over 1 per cent, gold is trading around Rs 27,550. While silver gained 0.25 per cent, and it is trading around Rs 38,900. Similarly, gains in the international market have been reduced. Comex Gold at 1240 dollars per ounce but still remained near a one-month peak as Wednesday’s disappointing U.S. data added to concerns over the outlook for global economic growth.” KheloMCX.com commodity market Analysts said.

At MCX Gold December futures contract was trading at Rs 27,555  up Rs 308, or 1.11 percent. Prices hit an intraday session high of Rs 27470 and an intraday session low of Rs 27270. So far, 6081 contracts have been get into traded at MCX commodity exchange.

Today, domestic benchmark equity index Sensex lost 1.33% or 349.99 points to 25,999.34 points, as overseas investors liquidated some interests in the domestic market putting more pressure on the rupee.

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Gold February futures rise 0.5% on a firming global trend

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Gold February futures rise 0.5% on a firming global trendGold prices on MCX advanced today, tracking a firming global trend, as speculation that the US Fed may delay raising borrowing costs on slowing global growth hurt the dollar and boosted demand for a safe-haven.

At MCX, Gold February futures  contract was trading at Rs 27,240 up Rs 129, or 0.48 percent. Prices touched an intraday session high of Rs 27240 and an intraday low of Rs 27193. So far 13 contracts have been traded today in morning session.

Early strength of the rupee against the dollar is down. The rupee had strengthened by about 0.25 per cent in early trade. But in gold and silver is still firmly intact. In the domestic market price of gold has risen above 0.5 per cent to Rs 27,100.

KheloMCX commodity analyst said, Because of weakness of the dollar in international commodity markets, gold continues to shine and Comaks prices are close to $ 1235.

Gold futures instant delivery slid 0.3 percent to $ 1232.59 an ounce at 09:41 am at London, according to Bloomberg. It reached $ 1,237.86 yesterday, the highest since September

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Gold beyond Rs 27,000 as concern that weak global economic growth

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Gold beyond Rs 27,000 as concern that weak global economic growth

Gold is trading bullish on the ongoing eve of Diwali. Last week, about 2.5 per cent gold prices rise, and today the first day of the week, gold has gone beyond Rs 27,000. In the international market prices has touched $1235.

KheloMCX commodity analyst said recovery in the precious metal overseas as concern that global economic growth is slowing, ahead of bad data from China and Europe once again appeal returns in gold as safe haven assets.

Gold futures prices on MCX were trading higher on Monday. At the Multi Commodity Exchange (MCX), gold futures delivery in February 2015 rose by Rs 215, or 0.79%. Gold prices hit an intraday high of Rs 27297 and an intraday low of Rs 27240. So far 45 contracts have been traded.

On U.S. Comex Gold December futures delivery hit a session high of $1,238.00 a troy ounce, a level not seen since September 17.

Meanwhile, gold merchants continued to speculation on when to a rate hike in the US after the minutes of September meeting of the Fed released last week showed that some officials were worried about the impact of dollar appreciation on global growth and inflation outlook for the United States.

Gold Traded funds holding is falling steadily. Gold SPDR Holding down 760 tonnes down at the lowest level of the past 6 years.

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Gold prices close to Rs 27,000 in futures trade on global cues

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Gold prices close to Rs 27,000 in futures trade on global cues

Despite the strongly of the rupee against the dollar, gold in the domestic market has accelerated strongly today. With a gain of nearly 1 per cent on MCX gold, is trading close to Rs 27,000. With nearly 1.5 per cent jump silver has gone up to Rs 38700.

MCX Gold futures delivery in December moved up by Rs 187, or 0.70 per cent, to Rs 26,924 per 10 grams  GOld prices touched an intraday session high of Rs 26970 and an intraday session low of Rs 26845. So far 1237 contracts have been traded in the Morning.

“The gold in the international market has moved beyond $1225. The price of silver has been bouncing around 1 per cent. Because of rise in the international market, the domestic market has support gold and silver.
Yesterday, the Fed released minutes of the rise in interest rates in the United States right now, there is no scope. The Gold has accelerated only of the currency support. Because Gold funds holding is falling steadily.” Khelo MCX commodity market Analysts said.

Holdings in the SPDR Gold Trust, the biggest bullion-backed exchange-traded product, declined yesterday to 762.08 metric tons, the least since December 2008.

Gold futures contracts for December rose as high as 1.8 percent to $ 1227.30 an ounce on the Comex in New York, the biggest intraday gain since August 06, and was quoted at $ 1227.20.

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