Latest News
-
Banks Close As India Votes: Lok Sabha Elections Phase 1 -
Trade Call: 2 Technical Intraday Stock Picks By Sumeet Bagadia On Friday, April 19 -
Swing Trading Guide: 2 Buy/Sell Stock Picks By VLA Ambala On Friday, 19th April -
Stock Market Live Updates: GIFT Nifty Cues Gap-Down Starts; US, Asian Markets Down, Oil Prices Rise $3/bbl -
1:3 Bonus Share, Rs 13.25/Share Dividend: Buy Maharatna PSU, TP Rs 355, Fundraise Approved -
Results, Dividend, Fundraise On April24: Buy Top Bank Stock Amid Rich Valuation, TP Rs 1400: Nomura -
1:4 Bonus Shares, Rs 7 Dividend: Big Update Announced; Buy The FMCG Stock? -
1:10 Stock Split: 1 Rs 980 Smallcap Has Split Into Ten Shares; Check Out New Price Level, Fundamentals! -
Rs 2.50/Share Final Dividend: Record Date In Due Course; Buy The ITC Group Stock? -
Rs 95/Share Dividend: Record Date On 28th June; Buy Mahindra Group Stock To Be Eligible?
Gold takes a breather on profit booking
Overseas spot gold surged to a six-month high after Federal Reserve Chairman Ben Bernanke's announced a quantitative easing programme in the US. This is expected to see fresh surge in gold as liquidity through the easing tends to chase precious commodities. International spot gold was seen trading at $ 1,770 an ounce.
MCX gold futures for October 2012 contract, was trading at Rs 32,228 per 10 gram, lower by 0.30%.
Gold futures for April 2013 contract, was seen trading lower by 0.10% at Rs 33,342 per 10 grams on MCX at 2.10 pm IST.
MCX silver futures was lower by Rs 182, and was trading at Rs 65,110 per kg.
Delhi spot gold prices touched a fresh high of Rs 32,900 per 10 grams.
The rally in gold, though partly aborted today is likely to continue witnessing momentum in the next week, as a buy on dips call is likely to persist.
This is in line with liquidity chasing other commodities, including ferrous and non ferrous metals, as well as risky assets including equities.
GoodReturns.in
