Thursday, 21 June 2012

MCX Today Tips : Indian Gold Trades Flat

In India MCX gold traded flat on Wednesday following overseas Stock markets, but physical intraders awaited a fall in prices before booking deals in a seasonally slack demand period. More Information about mcx today tips visit my site

* At 0938 GMT, the most-active MCX gold for August delivery was 0.04% higher at Rs 30,224 per 10 grams. The contract shed 0.33% in the previous session.

* MCX Gold in overseas Stock market was USD 1,617.59-1,618.40 an ounce as against USD 1,616.60-1,619.60 on the previous day.

* A trail of disappointing data indicating sluggish US economic growth has raised speculation the Federal Reserve's bond-buying scheme dubbed "Operation Twist," may last beyond its June deadline.

* The onset of the rains curtails festive and wedding activity. Indian farmers, who depend on the monsoon for a good harvest, contribute to more than half the country's MCX gold demand.

* "It is still slow, we might see little bit of buying due to auspicious reasons tomorrow," said Ketan Shroff, director, Pushpak Bullion.

* Gurupushyamrit, considered an auspicious day for new ventures, falls on Thursday.

* MCX Silver futures also traded flat following the yellow metal.

* The most-traded mcx silver for July delivery on the MCX was 0.01% lower at Rs 54,458 per kg.

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