Friday, May 8, 2015

MCX Gold Ready to come Below 26000, Eye on US Market Data

MCX Gold Updates
MCX Gold Updates
MCX Gold Updates
Gold trend is looking bearish and appears to be hanged between Currency market and US Employment data. The gold prices are directally relly on these conditions.
The last 6 weeks, Gold is trading between 1170-1213 dollars per ounce. Gold is looking slightly bearish today and trading at 1183 dollars per ounce level on International market. Another fector of this downtrend is The recovery of the rupee in the domestic market declined by 0.25%.
US employment data is going to released today evening can give new direction to gold. Although experts is experting gold prices will slide below Rs 26000.

Gold slipped below 26,000 may
The US labor market is likely to improve. Given the Fed may raise interest rates. If that happens MCX Gold prices could slip up to Rs 26000. Recovery in the stock market and the dollar is likely to lead to pressure on the gold prices.

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