Friday, 31 July 2015

MCX Commodity Trading Tips with Latest News

Gold slipped to near 5-1/2-year lows on Friday and was on course for a sixth straight weekly fall, its longest retreat since 1999, after upbeat US economic data strengthened expectations for a near-term hike in interest rates. Bullion was also set to end July with its biggest monthly decline in more than two years after a deep rout last week further shook investor confidence, with more losses seen ahead.

Spot gold was down 0.3 percent at USD 1,084.60 an ounce by 0240 GMT, and has dropped more than 1 percent for the week. Bullion has lost 7.5 percent so far for the month, its steepest since June 2013.

In other metals, spot platinum and palladium were slightly weaker and not far off multi-year lows, while silver was steady. 

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