MCX Gold February futures prices fall around 0.5 per cent to Rs 25,500

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MCX Gold February futures prices fall around 0.5 per cent to Rs 25,500

MCX Gold February futures prices fell for a third day on Friday around 0.5 per cent to Rs 25,500 as speculators offloaded their positions tracking a weak global trend.

Gold is underway for a second annual drop in part as the Federal Reserve ended a program of buying assets not stoking inflation amid a drop in prices of energy. Crude fell to the lowest level since 2010, as OPEC did not take action for relieving an oversupply.

At the Multi Commodity Exchange futures market, Gold February delivery fell by Rs 125 (or 0.47 per cent) to Rs 25,509 per 10 grams.

KheloMcx Bullion Market observers said the falling prices of gold futures was mostly due to a weakening trend in the global marketplace as crude oil at the lowest level in four years the prospects of a cooldown consumer prices, which reduces the demand for hedge against inflation.

Meanwhile, gold in comex New York for February delivery fell 1.3 percent to $1,181.90 an ounce.

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Gold futures contract marginal gains ahead of U.S. economic data

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Gold futures contract marginal gains ahead of U.S. economic data

Gold futures contract marginal gains on Wednesday, as investors assessed equities near record highs against signs that improvement in the U.S. job market has stalled.

Gold futures for February delivery climbed 0.1 percent to $1,199.30 an ounce on the Comex in New York.

At the Multi Commodity Exchange, February gold futures contract was trading at Rs 26,835 to marginally up by Rs 41, or 0.15 percent. Gold rate touched an intraday high of Rs 26,850 and an intraday low of Rs 26,792. So far 48 futures contracts have been enter into MCX trade.

KheloMcx Commodity Market analysts said, “Gold trades steady on futures market as traders await data on employment, consumer confidence and durable goods orders later on Wednesday looking for clues about the outlook for US monetary policy, but rather moves is muted when there physical demand provided support.”

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MCX Gold December futures rise on positive global cues

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MCX Gold December futures rise on positive global cues

Prices of MCX gold futures were trading with marginalized gains on Tuesday as speculators enlarged positions on positive signals from the overseas markets.

At the Multi Commodity Exchange, Gold December fuutres contract was trading up by Rs 59, or 0.22 per cent, to Rs 26,522 per 10 grams. Gold prices hit an intraday morning session high of Rs 26,533 and an intraday low of Rs 26,471. So far 914 contracts have been traded at MCX Exchange.

Market analysts said speculators enlarged their positions on the back of overnight gains on the US markets, after small losses in the previous session, while traders eyed the dollar and an upcoming Swiss referendum on central bank gold reserves for more trading cues.

Meanwhile, globally Spot gold was up 0.1 per cent at $1,198.76 an ounce. And Comex gold traded 0.96 per cent higher at $ 1,194.50 an ounce

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MCX Gold February futures up on short-covering

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MCX Gold February futures up on short-covering

MCX Gold February futures were trading higher on Monday, as the participants covered up their short positions, even as the yellow metal dropped from up to three weeks in overseas markets.

At the Multi Commodity Exchange, Gold February contract was trading up by Rs 99, or 0.37%, to Rs 26,870 per 10 grams. Gold prices touched an intraday high of Rs 26,882 and an intraday low of Rs 26,700. So far 96 futures contracts have been traded into MCX Exchange.

On the New York Comex Exchange, Gold February futures delivery tacked on $1.60, or 0.13%, to trade at $1,200.00 a troy ounce during U.S. morning hours.

KheloMcx.com Analysts said, “The worldwide bullion prices held near a three-week high on expectations that the European Central Bank is moving closer to embarking on quantitative easing to stimulate inflation, mostly weighed on gold futures prices.”

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MCX Gold futures down 1% taking weak cues from the global market

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MCX Gold futures down 1% taking weak cues from the global market

MCX Gold futures prices were trading lower on Thursday after participants offloaded positions, taking weak cues from the global market.

At the Multi Commodity Exchange, Gold December futures contract was trading down at Rs 26,387 by Rs 324, or 1.21%. Gold prices hit an intraday high of Rs 26550 and an intraday low of Rs 26375. So far 1952 futures contracts have been enter into morning trade.

At the global level, gold for delivery in December was little changed at $ 1,192.20 an ounce on the Comex in New York. The prices, which reached a three-day low yesterday, hit a two-week high of $ 1204.10 in November 18.

Market analysts said a weak trend in overseas markets as bullon investors weighed expectations for higher U.S. interest rates against signs of more physical buying, mainly put pressure on the gold futures prices.

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MCX Gold February futures prices likely to trade on positive

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MCX Gold February futures prices likely to trade on positive

Gold futures prices on MCX were trading with marginal gain on positive note. While, Gold climbed nearly 1 percent on Tuesday as investors returned to the market amid signs of upward charts.

At the Multi Commodity Exchange, Gold February futures contract was trading at Rs 26,864 up Rs 32, or 0.12 percent. Prices has touched an intraday high of Rs 26880 and an intraday low of Rs 26805.

At global marketplace, Gold for immediate delivery added 0.2 percent to $1,199.21 an ounce by 9:42 a.m. in London, And Gold for December delivery increased 0.1 percent to $1,198.70 on the Comex in New York.

“Bullion investors overlooked an unexpected rise in farmgate prices in the US in October, which showed an underlying tendency that continued pointing to an environment that Federal Reserve to keep rates very low with little more interest.” KheloMCX analysts said.

Moreover, the central bank of India is currently in talks with the government to increase restrictions on imports of gold and an announcement could come as early as Tuesday, said a source from the Ministry of Finance.

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MCX Gold December futures contract traded higher at Rs 26,580

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MCX Gold December futures contract traded higher at Rs 26,580

MCX Gold futures traded higher on Tuesday, before retreating slightly as investors took profits.

At the Multi Commodity Exchange, Gold December futures contract was trading at Rs 26580 up Rs 252, or 0.95 percent. Gold prices hit an intraday high of Rs 26449 and an intraday low of Rs 26392.

MCX Gold February futures was trading at Rs 26,638. Prices touched an intraday high of Rs 26650 and an intraday low of Rs 26605.

A day earlier, gold February futures declined by Rs 87, or 0.33 percent at Rs Rs 26543 as a stronger U.S. dollar weighed.

Today, On the Comex New York Mercantile Exchange, gold December delivery rose by as much as 1.71% to hit a daily high of $1,204.10 a troy ounce, the most since October 30.

The dollar index, which tracks the performance of the greenback versus a basket of six major currencies peers, fell 0.4% to hit 87.66.

The weak dollar are generally beneficial gold, as it boosts the metal’s appeal as an alternative asset. Gold prices have been well supported in recent days as investors returned to the market amid signs of upward charts.

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