Saturday, 11 August 2012

MCX Gold Trading Refrain from Buying

MCX Gold trading in India took to the sidelines as rate steadied near the Rs 30,000 per 10 grams mark, despite seeking to stock market for festivals, even as a drought threatens to cut demand from rural areas. More information about Mcx gold trading tips visit my site

* "There is no demand right now... demand could pick up by September end," said an official with a private bullion importing bank in Mumbai.

* Event period has began in Indian, the greatest customer last year, with the party of Janamashtami on Saturday, and will optimum in Nov. Marriages will also take place during this period.

* MCX Gold imports have already declined due to doubling of import duty, and the drought could further dent demand from rural areas.

* Non-urban areas, which rely on monsoon down pours for farming makes and income, give rise to about 60% of the nation's demand.

* The most-active MCX gold for October delivery on the Multi Commodity Exchange (MCX) was 0.07% lower at Rs 29,946 per 10 grams, after hitting a high if Rs 30,016.

* MCX Silver also edged lower following copper, another industrial metal.

* MCX Silver for September delivery on the MCX was 0.30% lower at Rs 53,349 per kg.

No comments:

Post a Comment