Wednesday, 14 March 2012

MCX Intraday Tips

"Mcx Intraday Tips"

Physical gold traders in India, the world's biggest buyer of bullion, stayed on the sidelines on Tuesday, despite a decline in the prices from the one-week high hit in the previous session. More Information about Intraday tips visit my site

* The most-active gold for April delivery on the Multi Commodity Exchange (MCX) was 0.38% higher at Rs 27,865, easing from the previous session's high of Rs 28,084.

* "Market is waiting for correction and direction. There were a few stray deals but people don't want to go aggressive before the FOMC and the budget," said Pinakin Vyas, assistant vice-president with IndusInd Bank .

* The outcome of the meeting of the U.S. Federal Open MCX Commodity Market, which sets interest rate in the country, will be known later in the day. Global gold has risen about 9% so far this year on a near-zero U.S. rate outlook.

* The rupee, which hit its highest level in a week, plays an important role in determining the landed cost of the dollar-quoted yellow metal.

* MCX Silver also moved down, in tandem with the yellow metal. Silver for May delivery on the MCX last traded 0.17% lower at Rs 58,296 per kg.

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