MCX Gold April contract trades down on a weakening global trend

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MCX Gold April contract trades down on a weakening global trend

Amid a weakeing global tendency, gold futures was trading marginally eased today as speculators cut their positions.

At the Multi Commodity Exchange, gold for delivery in February fell by Rs 27, or 0.10%, to Rs 27,950 per 10 grams. Gold prices touched a session high of Rs 28,140 and low of Rs 28,075. So far 17 futures contracts have been traded on MCX.

In the capital city, gold on the purity of 99.9 and 99.5 percent lower quoted Rs 150 each at Rs 28,350 and Rs 28,150 per ten grams respectively.

Bullion traders further stated, a drop in demand from jewelers at current levels, ahead of weak global trend before a meeting of the European Central Bank, which can introduce stimulus that influenced the sentiment.

Analysts said gold traded lower globally, as investors locked in profits from a recent rally that took prices a maximum of five months prior to the highly anticipated ECB policy meeting at the end of the day, that is expected to provide a government bond purchase program.

On the Comex, gold futures for February delivery fell $ 7.60, or 0.59%, to trade at $1286.10 a troy ounce.

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MCX gold April futures climb Rs 90 to trade at Rs 28,277 per 10 grams

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MCX gold April futures climb Rs 90 to trade at Rs 28,277 per 10 gramsGold futures prices gained in futures trade today as profitters engaged in enlarging positions strongly in tune with a firming global trend.

At the Multi Commodity Exchange (MCX), Gold futures conract for far-month April gained Rs 90, or 0.28 per cent, to trade at Rs 28,277 per 10 grams. Futures hit an intraday session high of Rs 28262 and an intraday session low of Rs 28164.

In New Delhi bullion market, the gold of 99.9 and 99.5 percent purity increased by Rs. 320 each to Rs. 28,500 and Rs. 28,300 per ten grams, respectively, a level last seen on August 20 last year.

Bullion Dealers said apart from buying wedding season by jewelers, a reassuring trend on global markets where gold is exceeded $ 1.300 an ounce for the first time since August, boosted sentiment.

Globally, on the Comex in New York, gold futures for February delivery touched a intraday session high of $1,303.60 a troy ounce during European morning hours.

Analysts said gold rallied above the $1,300-level for the first time in five months on Wednesday, ahead of a meeting of European Central Bank ( ECB) policy makers, supported the rise in gold prices at futures trade here.

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MCX Gold April futures up Rs 98 to Rs 27,798 per 10 grams

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MCX Gold April futures up Rs 98 to Rs 27,798 per 10 gramsGold futures prices trading higher on MCX, taking positive cues from global bullion market ahead of profitters created fresh positions.

At the Multi Commodity Exchange, gold futures delivery in February was up by Rs 98, or 0.36%, to Rs 27,798 per 10 grams. Gold prices hit an intraday session high of Rs 27,889 and an intraday low of Rs 27,845. So far 45 gold futures contracts have been traded on MCX.

In the domestic bullion marketplace, gold of 99.9 and 99.5 per cent purity added another Rs 100 each to Rs 28,180 and Rs 27,980 per 10 grams respectively on wedding season demand from jewellers and a firming trend overseas. The precious metal had gained Rs 760 in the previous three sessions.

Gold traded advance in global market with the highest in nearly 5-months, like bullions rose on demand for a haven amid concerns about global economic growth is slowing.

Gold futures for February delivery gained 1.2 percent to $1,292.50 on the Comex. Meanwhile, gold was trading $1.16 higher at $1,276.81 an ounce in Singapore.

Khelo MCX Analysts said, the market playeres will be watching the ECB meeting on Thursday to any notice of QE announced and if we should see moderately demand for the yellow metal.

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MCX Gold April contract slips 1.06 percent at Rs 27,080

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MCX Gold April contract slips 1.06 percent at Rs 27,080MCX Gold futures prices moved down by 1.06 percent today as participants offloaded positions partially, taking weak cues from the global market.

In the global marketplace Gold clutch gains to trade close to a four-month high on Thursday as the release of a mixture data from the United States and after the SNB has dropped interest rates into negative territory.

At the Multi Commodity Exchange, Gold April fututres was trading at Rs 27,080 down Rs 291, or 1.06 percent. Prices touched an intraday high of Rs 27,300 and an intraday low of Rs 27,055. So far 123 contracts have been traded on MCX Exchange in morning trade.

Market analysts said a weak trend on the precious metal from overseas markets and profit-booking also influenced the sentiment.

In the national capital bullion market, gold of 99.9 and 99.5 per cent purity plunged by Rs 230 each to Rs 27,320 and Rs 27,120 per ten grams respectively, while sovereign continued to be traded at last level of Rs 23,850 per piece of eight gram. Bullion traders said subdued demand at current levels and a weak global trend mainly pulled down both gold and silver prices.

On the Comex, gold February futures delivery hit a session high of $1,261.00 a troy ounce, the most since September 8.

A delay in the Fed to raise interest rates would be viewed as bullish for gold, decreasing the relative cost of holding on the metal, that does not offer investors any likely guaranteed payments.

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MCX Gold April futures up by Rs 174 on global cues

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MCX Gold April futures up by Rs 174 on global cuesGold futures prices on MCX were trading higher by Rs 174 to Rs 27,175 per 10 grams today as speculators created fresh positions amid positive cues from global markets.

Gold rallied to its highest level by more than four weeks, as investors seeking refuge from steep losses in the oil market and amid speculation the Federal Reserve will keep rates on hold for longer.

At the Multi Commodity Exchange, April futures contract was trading up by Rs 174, or 0.64 per cent, to Rs 27,175 per kg. Gold touched an intraday session high of Rs 27198 and an intraday session low of Rs 27113. So far 32 contracts have been traded on MCX.

Similarly, Gold February futures was trading at Rs 26,972 up Rs 172, or 0.64 percent.

In the national capital bullion market, gold of 99.9 and 99.5 per cent purity flared up by Rs 230 each to Rs 27,480 and Rs 27,280 per ten grams respectively.

Meanwhile, on the Comex New York, gold futures for February delivery hit a session high of $1,231.20 a troy ounce, the most since December 11.

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MCX Gold April futures contract trades lower on profit-booking

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MCX Gold April futures contract trades lower on profit-booking

Amid profit-booking by profiteers and a weak trend global market, gold futures contract trades lower today.

At the Multi Commodity Exchange, April futures contract was trading at Rs 27,587 down Rs 27, or 0.10 percent. Prices touched an intraday high of Rs 27587 and an intraday low of Rs 27469. So far 113 gold futures contracts have been traded on MCX.

Increased fourth day, in the capital city, gold of 99.9 and 99.5 percent purity in advance for Rs 70 each to Rs 27,570 and Rs 27,370 per 10 grams, a level not been seen since October 29, 2014. it rose Rs 475 in three previous sessions.

At global marketplace, Gold edges lower but remains near 3-week high ahead of Fed minutes latest policy meeting later Wednesday, which were expected to provide further indications on the future direction of monetary policy.

Bullion for immediate delivery fell 0.3 percent to $1,214.65 an ounce in London, the metal rallied to a three-week high yesterday amid concerns about the health of the European economy also.

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MCX Gold February futures prices rise by Rs 109 to Rs 27,147 per 10 grams on global cues

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MCX Gold February futures prices rise by Rs 109 to Rs 27,147 per 10 grams on global cues

MCX Gold futures prices were trading higher on Tuesday, and rose by Rs 109 to Rs 27,147 per ten gram taking positive cues from global markets, as speculators enlarged positions.

At the Multi Commodity Exchange (MCX), gold for delivery in February was up by Rs 109 or 0.40 per cent, to Rs 27,147 per 10 grams. Prices touched an intraday high of Rs 27,175 and an intraday low of Rs 27,083. So far 1660 futures contracts have been traded on MCX.

Analysts said the new positions created by the following participants with a better trend in the global market, as fall of local stocks and a concern that Greece may leave the eurozone invigorated demand for safe haven. This contributed the prices of precious metal futures trading in Delhi.

In Delhi, gold of 99.9 and 99.5 per cent purity gained another Rs 200 each to Rs 27,500 and Rs 27,300 per ten gram respectively. It had gained Rs 275 in the previous two days.

Meanwhile, Gold futures February delivery on the Comex New York, hit a session high of $1,214.40, the most since December 16.

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