Tuesday, 25 September 2012

MCX Gold Edges Up Hit High Record In India

MCX Gold inched up on Tuesday, recovering from a one-week low hit in the previous period when the jewelry dropped together with other merchandise as poor In in german data fanned problems about international growth, giving the dollar a increase. More Information about mcx tips india visit my site mcx-today.blogspot.com

Investors continued to pile into MCX gold, delivering holdings of actually supported exchange-traded resources to a record high, with objectives that recent incitement goes by main financial institutions will support further durability in gold.


* Spot MCX gold inched up 0.1 percent to $1,765.84 an ounce by 0027 GMT, after dropping to a one-week low of $1,755.30 in the previous session.

* U.S. MCX gold edged up 0.2 percent to $1,768.51.

* German business sentiment dropped for a fifth straight month in September, raising fears of recession, as companies struggled with a bleaker economic outlook and the European Central Bank's bond buying plan failed to create much boardroom cheer.

* SPDR MCX Gold Trust, the world's biggest gold-backed exchange-traded fund, said its holdings hit a record high of 1,326.808 tonnes by September 24.

* The total holdings of gold ETFs also hit an all-time high, at 73.765 million ounces, or 2,294.348 tonnes.

* Spot palladium, which staged with its sharpest one-day decline in more than six months with a 4.1-percent drop on Monday, was little changed at $640.60 an ounce.

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