Thursday, February 9, 2012

MCX Gold Trend and Tips For Today: 9th Feb '12

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NEW DELHI: Snapping a three-day rising streak, both gold and silver fell today on profit-selling by stockists at existing higher levels amid a weak global trend.
All though the most-active gold for April delivery on the Multi Commodity Exchange (MCX) was 0.38 percent higher at 28,283 rupees per 10 grams, after hitting 28,365 rupees, nearing the 28,434 level touched in mid-December.
Greek political leaders have agreed on all points of a bailout package except one pension cuts, and officials said discussions with international lenders would continue so a deal could be concluded before a meeting of euro zone finance ministers on Thursday.
Market analysts said increased buying by speculators following pick-up in demand due to ongoing marriage season amid firming global trend mainly led to rise in gold prices at futures trade.

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