Friday, 1 July 2016

Live Gold Market Update

Gold was in the trading session ending Thursday. Yellow metal closed at Rs 31210 per 10 grams, down 0.34%. The yellow metal support levels are at Rs 31100 and 31150 per 10 grams. On the higher side Rs 31400 and 31420 per 10 grams are the cap to watch out for. Gold tested a high of Rs 31290 per 10 grams and Rs 31131 per 10 grams as low. For more information visit

       Gold held on to its overnight gains in Asian trade on Friday and was headed for its fifth
straight weekly gain, as a recovery in equity markets post the Brexit vote was offset by a weaker dollar.
       The prices of Copper moved forward though weekend trades are expected to bring declines due to profit booking. MCX Copper closed last session trades at Rs 330.65 per kg up 0.70%. The highs for Copper was at Rs 332.15 per kg while low is at Rs 328.05 per kg. China is the world's largest copper consumer, accounting for 45% of global demand.
       Crude futures retreated from two-week highs on Wednesday, amid heavy profit taking, but still ended the second quarter with one of its strongest three-month rallies in seven years, amid a host of global supply disruptions in recent weeks.
       MCX offers more than 40 commodities across various segments such as bullion, ferrous and non-ferrous metals, energy, weather and a number of agri-commodities on its platform.
      Asian stocks rose on Friday as riskier assets continued to recover from the Brexit shock, while the pound came under renewed pressure after the Bank of England's governor hinted of an interest rate cut ahead. 

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