Tuesday, 6 November 2012

MCX Commodity Gold futures updates

05:20 Unknown No comments
Gold futures advanced further as dollar weakened before the U.S. presidential election that may determine the direction of monetary and fiscal policy in the largest economy. A Romney victory may weigh on gold prices as hopes for further monetary easing may dim, hurting prospects for bullion. Gold for December delivery rose 0.5 percent to $1,691 an ounce on the Comex in New York. Silver December is trading at $ 31.335, up 0.207 per ounce in the electronic trading session. Euro edged up above $1.280, after dropping to $1.2761 during the early trading session.

MCX Gold moved with moderate gains as Indian rupee appreciated its value nearly 0.34% hovering around Rs 54.44 mark levels. The most active December Gold is trading at Rs 30900, up Rs 20 per 10 gram and is likely to find resistance at Rs 30950-31000 and supports at Rs 30850-30800 per 10 gram. MCX Silver December is trading at Rs 58,823, up Rs 254 and the counter is likely to face resistance at Rs 58930-59040 and supports at Rs 58620-58500 per 10 gram.
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