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MCX Gold falls as worries over the Eurozone rises

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MCX Gold falls as worries over the Eurozone rises
The gold on MCX fell in the early session of the trade as the fresh worries rose over the Eurozone.

The gold for December delivery contract opened low at Rs 27,670 per 10 grams and was seen trading at Rs 27,616 – Rs 27,618 per 10 grams. It fell lowest to Rs 27,592 per 10 grams at 11:18 am IST.

 

While, the gold for February delivery opened at Rs 27,958 per 10 grams and was trading at Rs 27,934 – Rs 27,940 per 10 grams same time.

International gold prices also fell and was seen down by $1,733.87 an ounce.

On the global front, the worries about the debt crisis in Eurozone have rose after France and Germany, Euro's biggest economies told Greece that they would not grant Greece a further aid until it decides whether it wants to stay in the euro zone.

The uncertainties about the Greece's ability to stick to its austerity programme have grown among the eurozone's leaders. They are now more keen to save Euro than Greece.

Asian and domestic shares also fell due to Eurozone's rising debt crisis.

G-20 summit is due this week starting Thursday and Friday, where the leaders of 20 countries will discuss about the various plans, Europe's debt crisis to be the major topic.

On domestic front, the 24 carat gold prices seen up at Rs 27,840 per 10 grams barring global worries. While, the 22 carat gold was seen up at Rs 25,970 per 10 grams.

GoodReturns.in

Read more about: gold mcx eurozone europe greece
Story first published: Thursday, November 3, 2011, 11:39 [IST]
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