Tuesday, 8 May 2012

MCX Gold and Silver Tumbles on Global Sluggish Demand

MCX Gold and silver coins tumbled in Delhi on Monday on heavy sell-off by stores in conjunction with a decline global trend. While silver dropped by Rs 120 to Rs 29,620 per 10 gm, silver lost Rs 550 to Rs 55,700 per kg on reduced offtake by retailers and industrial units at prevailing higher levels. More information about mcx today tips visit my site mcx-today.blogspot.com

Trading feeling turned bearish after silver and MCX gold coins dropped in global markets after the selection of Francois Hollande as France's president damaged the dollar, cutting demand for alternative assets.

Silver in the international marketplaces, which normally set price pattern on the home front, dropped 0.5% to USD 1,634.39 an ounces and gold by 1.3% to USD 29.98 an ounces in Singapore. Also, gradual need among store clients at existing higher levels and off wedding season further moistened the trading feeling.

On the home front side, silver of 99.8% and 99.5% cleanliness stepped by Rs 120 each to Rs 29,622 and Rs 29,482 per ten h respectively, while sovereign reduce Rs 50 to Rs 23,800 per item of eight g. In the same way, silver prepared decreased by Rs 550 to Rs 55,702 per kg and weekly-based shipping by Rs 465 to Rs 56,134 per kg.

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