Monday, 1 August 2016

Get August Indian Commodity Market Updates ; Gold Futures Marginally Down on global Cues

Gold futures marginally down on global cues, profit-booking ; Gold futures marginally down on global cues, profit-booking At Multi Commodity Exchange, gold for delivery in far-month October fell by Rs 66 or 0.21 per cent to Rs 31,530 per 10 grams in business turnover of 654 lots. For more Latest Live Indian Commodity Market News and free bullion trading tips just click here www.marketmagnify.com/freetrial.php or give a One Missed Call @7879881122.

Gold prices slip as equities rise, dollar recovers :-
Gold edged down slightly on Monday, after rising over one percent to a near 3-week high in the previous session, as equities rose and the dollar recovered from lows hit after disappointing U.S. growth figures last week. Spot gold fell 0.3 percent to $1,346.89 an ounce at 0056 GMT.

Bullion hit a high of $1,355.10 on Friday, its highest level since July 12. U.S. gold was down 0.3 percent at $1,354 an ounce. The U.S. Commerce Department reported on Friday that the U.S. economy grew at a 1.2 percent annual rate in the second quarter, much less than expected, as inventory investment fell for the first time in nearly five years.

The Gold metal for delivery in August contracts traded lower by Rs 59 or 0.19 per cent to Rs 31,490 per 10 grams in 171 lots. Analysts said offloading of positions by traders to book profits at current levels and a weak trend in the overseas markets mainly influenced gold prices at the futures trade.Globally, gold traded lower by 0.03 per cent to USD 1,350 an ounce in Singapore.

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