Gold need in Indian, one of the top customers, stayed reserved on Thursday as local prices increased monitoring a restoration in offshore marketplaces and as the rupee hit a new all-time low against the dollar.
The most-active gold for June delivery on the MCX was up 0.12% at Rs 29,004 .
The rupee, which plays an important role in determining the landed cost of the dollar-quoted yellow metal, hit a record low against dollar for the seventh straight session on Thursday.
Global gold recovered to USD 1,559 an ounce on Thursday, from USD 1,531 in the previous session, but remained on shaky ground as worries about Greece and the euro zone continued to dominate market sentiment.
The wedding period is coming to an end in Indian, while the celebration period has finished. Silver need is usually poor during monsoon several weeks in the south Asian country and choices up in Sept.
Gold demand in India is likely to moderate in 2012 as higher inflation trims disposable income at a time prices are stubbornly high on a weak rupee, the head of the World Gold Council in the.
MCX GOLD :
International: Major Support at USD1510. Bullish till USD1570.
Domestic: Buy above 29070, Stop loss 28970, Target 29140.
MCX SILVER :
International: Major Support at USD25. Bullish above USD27.
Domestic: Buy above 54100, Stop loss 53800, Target 54400.
MCX COPPER :
International: Major Resisatnce at LME 9500. Bullish till LME 8400.
Domestic: Buy above 425, Stop loss 423, Target 431.
The most-active gold for June delivery on the MCX was up 0.12% at Rs 29,004 .
The rupee, which plays an important role in determining the landed cost of the dollar-quoted yellow metal, hit a record low against dollar for the seventh straight session on Thursday.
Global gold recovered to USD 1,559 an ounce on Thursday, from USD 1,531 in the previous session, but remained on shaky ground as worries about Greece and the euro zone continued to dominate market sentiment.
The wedding period is coming to an end in Indian, while the celebration period has finished. Silver need is usually poor during monsoon several weeks in the south Asian country and choices up in Sept.
Gold demand in India is likely to moderate in 2012 as higher inflation trims disposable income at a time prices are stubbornly high on a weak rupee, the head of the World Gold Council in the.
MCX GOLD :
International: Major Support at USD1510. Bullish till USD1570.
Domestic: Buy above 29070, Stop loss 28970, Target 29140.
MCX SILVER :
International: Major Support at USD25. Bullish above USD27.
Domestic: Buy above 54100, Stop loss 53800, Target 54400.
MCX COPPER :
International: Major Resisatnce at LME 9500. Bullish till LME 8400.
Domestic: Buy above 425, Stop loss 423, Target 431.
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