Wednesday, December 26, 2012
Gold was barely changed in Monday's pre-Christmas session, with futures ending down a notch amid light volume and uncertainty over America's fiscal condition in the coming year. Volume in gold futures was less than a quarter of the 30-day norm, with metals markets on New York's COMEX closing earlier than usual for Tuesday's Christmas Day holiday. Gold has been in both risk-on and risk-off modes lately, with investors undecided about direction for the precious metal due to the so-called U.S. "fiscal cliff." Some analysts say an impasse in the US budget talks boosts gold's safe-haven appeal. Others argue that the metal is increasingly behaving like a risk asset, which is why a budget deal could offer investors some direction.
MCX Gold Silver Tips
In Domestic Market there is a decline in gold and silver. Gold traded in the international market is on the decline mode. In the domestic market, gold prices fell by Rs 149. MCX Silver is down to Rs 57532. Currently MCX gold is trading at Rs 30705, with a decline of 0.4 per cent. While silver is trading at Rs 57532 with osteoporosis. For Free Tips in MCX Gold Silver Plese Fill the Free Trial form.
Crude Oil Updates:
Crude oil prices were down due to lower trading volumes before the Christmas holidays and concerns over the unresolved US budget talks. Crude oil has accelerated. International trade has had on the domestic market is bullish. Stocks are projected to decline over NYMEX crude oil went above $ 89. The U.S. Energy Department will report on Friday. The MCX crude oil with 0.3 per cent to Rs 4920 has been exceeded. We expect Crude oil prices go down as demand looks weak as investors await the decision on the fiscal cliff which is nearing its deadline.