Market Update

Market Watch

Tuesday, 20 May 2014

MCX Tips Live: Asian Gold Demand Falls

Gold demand in major consumers- China and India, fell in the first quarter from the previous year's record levels, the World Gold Council said on Tuesday, though a drop in sales from bullion-backed investment funds kept overall demand steady.

Indian consumer demand was down by just over a quarter to 190.3 tonnes, with gold jewellery consumption dropping 9 percent and coin and bar buying down 54 percent.

Gold held below $1,300 an ounce as a lack of major economic data and no significant developments in the Ukraine crisis kept investor interest muted. Spot gold was steady at $1,293.40 an ounce by 0313
Today’s Trends for Gold:
Trend: Consolidate | Strategy: Buy on dips
R1- 28450, R2- 28850| S1-27750, S2- 27350
Overall gold consumption in the first quarter held steady at 1,074.5 tonnes, however, as net outflows from bullion-backed exchange-traded funds (ETFs), which last year reached record levels, dried up.
Money CapitalHeight is a financial advisory company provides   you best Mcx Tips,Commodity trading  tips, gold tips, silver tips, crude tips,  copper tips, aluminum tips, and nickel tips register today for free trial and get  best calls for two days. For more information visit 
Call at 9993066624


No comments:

Post a comment