Emkay Commodity expects rally in Gold
Emkay Commodity Research has come out with its report on Commodities. According to the research firm, Gold is expected to go up as stronger euro can increase buying in gold and uncertainty over fiscal cliff continues.
November 27, 2012 / 12:43 IST
Emkay Commodity Research has come out with its report on Commodities. According to the research firm, Gold is expected to go up as stronger euro can increase buying in gold and uncertainty over fiscal cliff continues.
U.S. COMEX gold futures for December delivery settled down $1.80 an ounce at $1,749.60, with trading volume about 20 percent above its 250-day averageGold was down as investors awaited the decision on Greece bailout which could result in Greek default if the deal is not struck.The Eurozone Finance ministers, IMF and the ECB have finally agreed to reduce Greece’s debt and grant the second installment of the aid.Gold is expected to go up as stronger euro can increase buying in gold and uncertainty over fiscal cliff continues.Gold in India was up as rupee weakened and touched it’s all time high at 55.8675.Gold for December delivery on the Multi Commodity Exchange (MCX) was 0.34 percent up at INR 32359/10gms. After hitting the high of INR 32,464/10gms.Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.To read the full report click on the attachment 
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