Gold ascends to its near 2-week high on Wednesday in the international market, retrieving the USD1,300 level in a previous session, after British lawmakers ruled out Prime Minister’s Teresa May’s amended Brexit deal. Further, slackness in the greenback increased the Read more
At the Multi Commodity Exchange or MCX, gold for delivery in February traded higher reportedly by 0.01 percent or Rs.2, to Rs 31,529…
On Monday, there was considerable fall in gold prices due to profit booking. Gold prices declined by Rs 34 to Rs 31,244 per ten gram in futures trade on account of profit-booking by participants.
Coommodity, Bullion Watch: In the local bullion market, gold of 99.9% and 99.5% purity rose by Rs 150 each to Rs 32,500 and Rs 32,350 per 10 gram respectively.
COMEX Gold edged up above USD 1230/ounce on sustained safe haven demand. COMEX is the primary futures & options (F&O) market for trading metals including gold, silver, copper and aluminum.
Growing US interest rates, global growth issues are of growing concern, internationally. A rising dispute between the United States and Saudi Arabia over the vanishing of a prominent Saudi journalist also weighed on the general sentiment of markets.
Crude oil has come down sharply. Brent’s price slipped below $ 82, approximately below 6% from 4 year’s upper level. In the US the crude oil reserve increased nearly 97 Lakh barrel. While global economic growth affected due to expensive crude oil. in this situation, the demand for Crude Oil may decrease. It is expected that the production of crude oil will increase in the US which may also lead to rising crude oil price.