Thursday, 23 August 2012

MCX Tips India Gold Price Wary at 2 Month High

In Indian MCX gold trade refrained from taking fresh positions on last day as the yellow metal rose for a 6th straight session to hit its highest level in nearly two months. More Informatin about mcx tips india visit my site

* At 0855 GMT, the most-active MCX gold for October delivery on the MCX was trading 0.33% higher at Rs 30,415, having earlier struck a high of Rs 30,441, a level last seen on June 26.

* Global Market MCX gold gained slightly to hover near a 3-1/2 month high hit in the last session as investors remained hopeful the European Central Bank would soon take action to contain the region's debt crisis.

* The Indian festival season is underway, the world's biggest buyer of bullion. MCX gold imports have already halved so far this year and a likely drought could further dent rural demand.

* MCX gold imports during the September-December peak demand season could fall by 41% on year to 200 tonnes, the head of a trade body said.

* MCX Silver also moved higher tracking the yellow metal.

* MCX Silver for September delivery was 0.37% higher at Rs 55,452 per kg.

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