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At the Multi Commodity Exchange, gold for delivery in August contracts shed Rs 71, or 0.26 percent, to Rs 27,010 per ten grams in business turnover of 293 lots.
Silver, however, met with resistance at prevailing levels and fell by Rs 250 to Rs 37,050 per kg. Bullion traders said firming trend overseas where gold jumped to five-week high as weakening dollar
Goldm prices on MCX were trading lower on Friday. MCX Goldm August contract was trading at Rs 27139 down Rs 27, or 0.10 percent.
Gold prices on MCX were trading with marginal gains on Friday. MCX Gold October contract was trading at Rs 27418 up Rs 24, or 0.09 percent.
In a draft outline, it said the sovereign gold bond scheme would help in shifting part of the estimated 300 tonne of physical bars and coins purchased every year for investment into 'demat' gold
Spot gold was little changed at USD 1,200.54 an ounce by 0039 GMT. The metal jumped 1.3 percent on Thursday, its biggest daily rise since mid-May. It has gained 1.7 percent for the week.
. The reinstatement of gold on lease scheme will lower the price risk on inventory. A focus on higher margin diamond jewellery sales will further support the margins. However, the improvement will continue
The rebound in gold prices was mostly in tune with a firming trend in global market as dollar fell, adding to the appeal of the precious metal after the Fed signalled that the pace of policy
Goldguinea prices on MCX were trading higher on Thursday. MCX Goldguinea July contract was trading at Rs 21700 up Rs 131, or 0.61 percent.
Goldpetal prices on MCX were trading with marginnal gains on Thursday. MCX Goldpetal July contract was trading at Rs 2701 up Rs 12, or 0.45 percent.
Watch the interview of Navneet Damani of Motilal Oswal Commodities with Ekta Batra and Nigel D'Souza on CNBC-TV18. He spoke about the current trend in commodities markets.
According to Angel Commodities, gold prices are expected to trade sideways taking cues from international markets.
Gold prices on MCX were trading higher on Thursday. MCX Gold October contract was trading at Rs 27180 up Rs 62, or 0.23 percent.
Goldm prices on MCX were trading lower on Wednesday. MCX Goldm August contract was trading at Rs 26900 down Rs 72, or 0.27 percent.
Goldpetal prices on MCX were trading lower on Wednesday. MCX Goldpetal July contract was trading at Rs 2692 down Rs 3, or 0.11 percent.
Watch the interview of Jonathan Barratt of Ayers Alliance with Ekta Batra and Nigel D'Souza on CNBC-TV18. He spoke about the current trend in commodities markets.
Any increase in gold imports impacts the current account deficit (CAD). CAD in the first half of last fiscal declined to 1.9 percent of GDP (USD 18 billion) from 3.1 percent (USD 27 billion
Traders said fall in demand from jewellers and a weak trend in overseas markets mainly led to the fall in gold prices.
Way2Wealth has recommended to buy MCX Aug Gold around Rs 26970 with a stop loss of Rs 27240 for the target price of Rs 27133, in its research report dated June 16, 2015.
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