Tuesday, 3 June 2014
Mcx Market - Gold Extends Losses on Global Cues
Gold firmed on Tuesday, snapping a five-day losing streak as European shares dipped, but was still trading near its lowest level in four months after upbeat U.S. data kept the dollar close to a multi-month high versus a basket of currencies.
Spot gold edged up 0.1 percent to $1,245.40 an ounce by 1016 GMT. The slight rise on Tuesday followed a five-day decline that was the metal's longest losing streak in nearly seven months.
Continued its falling streak, gold prices declined by Rs 20 to Rs 27,200 per ten gram in the national capital today owing to slackened demand amid a weak global trend.
While, silver moved up by Rs 350 to Rs 40,700 per kg on increased offtake by industrial units and coin makers.