For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Gold trades flat on the MCX

|
 Gold trades flat on the MCX
Gold was trading flat on the MCX in the absence of any major cues. Gold for December delivery was trading at Rs 29,957, down Rs 38 over the previous day's close.
 

Gold and silver have been moving in a range in the last few trading sessions. Lack of cues have the left the precious metal directionless.

It's likely that the coming months may see some volatility in the precious metal ahead of the Fed meet next month. It's likely that the Fed may reduce its bond purchase programme, which could spark a sell-off in gold.

Gold is set to fall for the first time in 12 years and international gold prices have lost almost a fifth of their value.

Indian gold has not lost ground as much largely on account of the rupee depreciation that has taken place in the last six months.

Indian gold prices are largely determined by international gold prices and also by movement of the rupee against the dollar.

GoodReturns.in

Read more about: gold silver mcx
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more