In Indian MCX gold futures are likely to retreat further from last week's gains, weighed by expectations of a firmer indian rupee, which regained some ground on Monday after hitting a record low last week. More Information about Free mcx gold tips visit my site mcx-today.blogspot.com
At 0916 GMT, the most-active silver for Aug shipping on the Multiple Investment Return (MCX) was dealing 0.43% reduced at Rs 29,845 per 10 h, after reaching a low of Rs 29,720 previously. The agreement reduce 2.1% in the past 7 days.
"There will be a broad-based relief with tendency on the reduced part due to a modification in rupee...," Harish Galipelli, vice-president of JRG Success Control, said. "We are advising to remain brief."
The rupee rallied on Mon on objectives of actions from the govt to examine its fall. The rupee performs an important part in identifying the arrived cost of the dollar-quoted gold.
Traders will also be viewing the EU peak for price route. Having once expected this week's peak could be a level for the EU debt disaster, marketplaces seemed to have ripped down objectives of tangible advance.
Traders in India would also eye the progress of monsoon rains to gauge demand in the coming months.
India's monsoon rains are still expected to be average in 2012, allaying concerns over farm output triggered by sparse rainfall in the last few weeks.
MCX Silver for July delivery on the MCX was 1.02% lower at Rs 52,420 per kg.
Selling is advised in MCX silver at Rs 52,800, for a target Rs 51,200-50,000, with a stop loss above 53,500, said Galipelli.
At 0916 GMT, the most-active silver for Aug shipping on the Multiple Investment Return (MCX) was dealing 0.43% reduced at Rs 29,845 per 10 h, after reaching a low of Rs 29,720 previously. The agreement reduce 2.1% in the past 7 days.
"There will be a broad-based relief with tendency on the reduced part due to a modification in rupee...," Harish Galipelli, vice-president of JRG Success Control, said. "We are advising to remain brief."
The rupee rallied on Mon on objectives of actions from the govt to examine its fall. The rupee performs an important part in identifying the arrived cost of the dollar-quoted gold.
Traders will also be viewing the EU peak for price route. Having once expected this week's peak could be a level for the EU debt disaster, marketplaces seemed to have ripped down objectives of tangible advance.
Traders in India would also eye the progress of monsoon rains to gauge demand in the coming months.
India's monsoon rains are still expected to be average in 2012, allaying concerns over farm output triggered by sparse rainfall in the last few weeks.
MCX Silver for July delivery on the MCX was 1.02% lower at Rs 52,420 per kg.
Selling is advised in MCX silver at Rs 52,800, for a target Rs 51,200-50,000, with a stop loss above 53,500, said Galipelli.
No comments:
Post a Comment