Market Update

Market Watch

Monday, 18 August 2014

Today Mcx Tips Live Updates; Gold extends losses to below $1,300

In Mcx Gold extended losses into a second session on Monday, slipping below $1,300 an ounce as equities recovered after an initial sell-off over escalating tensions in Ukraine. Spot gold had fallen 0.4 percent to $1,299.80 an ounce by 0314 GMT, after dropping 0.6 percent on Friday. U.S. gold fell about $5 to $1,300.90. Asian stocks eked out gains on Monday after seeing Wall Street recover from the latest round of tensions in the Ukrainian crisis, although renewed uncertainty over the volatile conflict put a firm lid on markets.
Gold futures declined on Monday, but the precious metal managed to recoup most of the day's losses amid an escalation of the conflict in eastern Ukraine. On the Comex division of the New York Mercantile Exchange, gold for December delivery slumped 0.72%, or $9.50, to settle at $1,306.20 a troy ounce by close of trade on Friday.
Natural gas for delivery in September plunged 3.33%, or 13.0 cents, to settle at $3.776 per million British thermal units by close of trade on Friday. Prices hit $3.763 earlier; the lowest since August 4.Futures were likely to find support at $3.761 per million British thermal units, the low from August 4 and resistance at $3.947, the high from August 14.

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