09:35
MCX Tips
Indian MCX Gold trade picked up bargains in low volume trading on Wednesday as prices extended their fall for the fifth session in a row to hit their lowest level in three weeks, though a weaker rupee kept the losses in check. More Information about trade visit my site stock-trade-tips.blogspot.com
* The most-active MCX Gold for June delivery was 0.63% lower at Rs 28,472 per 10 grams, after hitting Rs 28,452, its lowest since April 17.
* The yellow metal has shed 3% since May 1, triggering buying by traders in the middle of the wedding season, that will last till May 15.
* "It (MCX gold buying) is slightly better compared to previous week due to correction in prices," said Ketan Shroff, director, Pushpak Bullion, a wholesaler in Mumbai.
* A weaker rupee kept the downside in prices limited. The rupee, which has depreciated 6% since January 31, plays an important role in determining the landed cost of the dollar-quoted yellow metal.
* The wedding season in India will taper off in mid-May, ushering in the lull MCX gold consumption season which will last until after the monsoon season from June through September.
* The most-active MCX Gold for June delivery was 0.63% lower at Rs 28,472 per 10 grams, after hitting Rs 28,452, its lowest since April 17.
* The yellow metal has shed 3% since May 1, triggering buying by traders in the middle of the wedding season, that will last till May 15.
* "It (MCX gold buying) is slightly better compared to previous week due to correction in prices," said Ketan Shroff, director, Pushpak Bullion, a wholesaler in Mumbai.
* A weaker rupee kept the downside in prices limited. The rupee, which has depreciated 6% since January 31, plays an important role in determining the landed cost of the dollar-quoted yellow metal.
* The wedding season in India will taper off in mid-May, ushering in the lull MCX gold consumption season which will last until after the monsoon season from June through September.
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