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Precious metals are expected to trade on a mixed note in international markets on the back of declining trend in gold and silver ETFs holdings. In the Indian markets, appreciation in the Rupee
Gold prices on MCX were trading lower on Thursday. MCX Gold February contract was trading at Rs 29385 down Rs 209, or 0.71 percent.
Gold edged lower on Thursday following a short-covering rally in the previous session, weighed down by concerns the US Federal Reserve ould soon begin tapering its monetary stimulus on strong
Despite a minor correction in prices, the scarcity of gold due to RBIs import restrictions has kept prices higher than the comfort level as spiraling retail inflation eats away into customer appetite.
Spot gold fell one percent to its lowest since July 5 at USD 1,211.44 an ounce earlier in the session and was down 0.9 percent to USD 1,217.06 by 1052 GMT.
David Lennox of Fat Prophets is cautious on gold and expects price of the yellow metal to weaken a little further until the US Fed announces the exact time for QE tapering.
"We expect the CAD to be lower in the remaining quarters of the FY'14 than the corresponding quarters in FY'13 in view of a pick-up in exports and a significant drop in gold imports," India
Goldpetal prices on MCX were trading with marginal gains. MCX Goldpetal February contract was trading at Rs 2932 up Rs 5, or 0.17 percent.
Goldm prices on MCX were trading mixed. MCX Goldm January contract was trading at Rs 29964 up Rs 143, or 0.48 percent.
Nirmal Bang has come out with its report on metals & energy. "Selling pressure is expected to continue in gold prices. One can sell around Rs 29100-29150 with a stop loss above Rs 29320
Goldguinea prices on MCX were trading with marginal gains. MCX Goldguinea January contract was trading at Rs 23680 up Rs 38, or 0.16 percent.
Spot gold had eased 0.2 percent to USD 1,221.64 an ounce by 0325 GMT. It traded in a narrow range on Tuesday slipping to USD 1,215.60 - fresh lows since early July - despite weakness in equities
Stung by rules imposed this year to cut a high trade deficit and a record duty on imports, dealers and individual customers are fanning out across Asia to buy gold and sneak it back into the country.
drop in gold imports.
Deccan Gold Mines has informed regarding outcome of board meeting held on December 03, 2013.
and a gradual recovery in domestic demand. Decline in gold imports and turnaround in exports helped narrow India's current account gap to USD 5.2 billion, or 1.2 percent of GDP, in the July
According to Samiran Chakraborty, head of research at Standard Chartered Bank, gold imports are likely to come down to a manageable level of USD 30-40 billion from the earlier USD 55-60 billion.
of expensive gold to meet high seasonal demand.More shipments by the world's top buyer may help underpin global silver prices that have slumped 37 percent so far this year - their biggest annual drop in at least
Goldpetal prices on MCX were trading with marginal gains. MCX Goldpetal February contract was trading at Rs 2922 up Rs 9, or 0.31 percent.
Goldm prices on MCX were trading flat on Tuesday. MCX Goldm February contract was trading at Rs 29135 down Rs 4, or 0.01 percent.
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