Tuesday, 18 September 2012

MCX Today Tips For Gold Demand Very Weak As Buyers

Today MCX Gold demand in India, the world's biggest consumer, was subdued on Monday as buyers waited for the rupee to stabilise before making purchases for the festive season. More information about mcx today tips visit my site mcx-today.blogspot.com
* The most-traded MCX gold contract, for October delivery, was down 0.12% at Rs 31,840 per 10 grams by 0943 GMT, after hitting a record high of Rs 32,421 late on Thursday.

* "The sharp rise in the Indian rupee was a surprise for buyers. They bought MCX gold aggressively on Friday, but are now waiting for the rupee to stabilize," said a Mumbai-based dealer with a private bank.

* The Indian money rose to a four-month high in early trade on Monday in hopes of major foreign inflows after the federal government announced the opening up of the aviation and multi-brand retail sectors to overseas direct investment.

* A strong indian money makes imports of MCX gold cheaper.

* "Buyers are not expecting prices to move higher in the world market. The market has factored in the impact of the Federal Reserve's stimulus programme," the dealer said.

* In the international Stock market, spot MCX gold eased to USD 1,767.59 an ounce.

* India celebrates the Ganesh festival this week, which will be followed by Dussehra in October and Diwali in November. Buying MCX gold during festivals is considered auspicious.

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