Tuesday, 29 May 2012

Mcx Gold Trading Demand In India

MCX Gold prices in India, one of the world's leading consumers, climbed on Monday in line with firm global markets but the rise depressed physical demand just ahead of a lean season. More Information about Mcx gold trading tips visit my site mcx-today.blogspot.com

* The most-active June delivery on the Multi Commodity Exchange (MCX gold) was up 0.25% at Rs 28,996 by 2:18 p.m.

* "We are heading towards seasonally weak demand period," said Babu Alapatt, managing director at retailer Alapatt Gold Pvt Ltd in Kerala. "The wedding season is coming to an end and the monsoon is approaching."

* Demand of MCX Gold usually drops between June and mid-August when there are no major festivals and marriages. Farmers will also be busy with planting during the rainy season.

* Global MCX gold Intraday rose on Monday, tracking a firm euro, as fears of a messy Greek exit from the euro zone receded slightly after opinion polls showed pro-bailout conservatives in the lead.

* The rupee, which plays an important role in determining the landed cost of the dollar-quoted yellow metal, was steady around 55.3352 to the dollar.

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