Positive data by US combined with ECB, China and USA's likely stimulus measures to boost global economy have added bullishness for gold. Analysts believe gold to trade slightly higher in an expectations including depreciating rupee against dollar. MCX most active October contract gold shall find a support at Rs 29850- 30,000 per 10 gm levels and resistance at Rs 30,325-30,450 per 10 gm. Spot gold support at $1598/1580 and resistance at1640/1660 levels.
In the beginning of the last week, MCX gold prices traded slightly lower on the slow growth in the global economy, especially in China and Japan. For the next week, MCX October will get a support from stimulus measures by US and China.
The week began at Rs 30,073/10 grams, initially traded slightly lower but found strong support at Rs 29,950/10 grams. Later prices bounced back and touched a high of Rs 30,198/10 grams and currently trading around Rs 30,140/10 grams.
According to World Gold Council (WGC), global demand for gold fell to 990 tonnes in the Q II, down by 7% compared with 1065.80 tonnes in the Q1 Holdings in the SPDR Gold Trust, the world's largest gold backed exchange traded fund, increased to 1263.58 tonnes on August 16, 2012 compared with 1254.94 tonnes on August 09, 2012. odit
For the latest updates on the stock market, PRESS CTR + D or visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
Related Post:
Indian stock market
- Bharti Infratel IPO issue price at Rs 220 per share
- Maruti Suzuki India stock projections 2013 -2014
- Omkar Speciality Chemicals shares outlook 2013
- Tech Mahindra stock outlook 2012-2013
- MCX Gold trend for november 12-16 2012
- MCX commodities prices expected october 23 2012
- astrological stock market predictions october 15-19 2012
- Indian stock markets forecast october 8-12 2012
- Nifty futures tips october 1-5 2012
- Indian stock market prediction october 1-5 2012
- Religare Finvest ncd issue
- Ranbaxy stock prices forecast 3-7 september 2012
- sme platform release date 9/4/ 2012
- NSE Guidelines SME Platform
- Why Tech Mahindra shares prices down august 30, 2012
- Nifty, Sensex outlook week 27 - 31 august 2012
- Sensex, Nifty rose 8/21/2012
- Shree Renuka Sugars stock outlook next week august 21 2012
- Delta Corp outlook next week august 21 2012
- Federal Bank projected remittances 2012-2013
- Indian markets nifty outlook august 20-24 2012
- Nifty, Sensex for week july 30-3 august 2012
- mcx crude palm oil prices july 24 2012
- Indian stock market for july 23-27 2012
gold
- Gold will climb toward $1,900 an ounce first half 2013
- Why Gold prices down analysis jan 7 2013
- Gold Prices expected Bullish Next Week
- Analysis forecast Gold prices in india 2013
- Why gold futures prices Down, Analysis december 26 2012
- Analysis gold prices for next week december 17-21 2012
- Goldman Sachs forecasts gold prices 2013-2014
- Analysis Gold prices dec 3 2012
- Gold, Silver Prices rose watch U.S budget deal
- Gold futures down in Asia trading november 14 2012
- analysis gold prices next week november 12-16 2012
- MCX Gold trend for november 12-16 2012
- Analysis Gold prices after obama win
- Analysis gold prices next week November 5-9 2012
- MCX Gold prices down october 30 2012
- Gold prices prediction next week october 29 2012
- Spot Gold prices expected down october 2012
- gold prices for next week october 22-26 2012
- gold futures prices expected week october 15-19 2012
- gold prices for next week october 8-12 2012
- how will Impact tensions in the Middle East on Gold Prices
- Gold Prices predicted $2,400 summer 2013
- Gold futures Prices october 4 2012
- Technical Forecast Gold, Silver prices october 1-5 2012
- Gold prices prediction october 1-5 2012
No comments:
Post a Comment