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Friday, 26 September 2014

Mcx Tips Live Bullion Maket Updates ; Gold prices continue gain

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Gold added to overnight gains on Friday and looked set to snap a three-week losing streak on weaker equities, but it continued to be in danger of breaking below the key $1,200-an-ounce level as the dollar headed for an eleventh week of gains.
Spot gold rose 0.1 percent to $1,223.91 an ounce by 0342 GMT , on track for a gain of 0.7 percent for the week. Gold rose 0.5 percent on Thursday, rebounding from a Nine-month low of $1,206.85 touched earlier in the session, as a sharp sell-off in U.S. equities prompted investors to buy bullion as a safe haven.
Gold prices rose in Asia on Friday in continued gains from overnight on political and economic uncertainty. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,222.80 a troy ounce, up 0.12% after hitting an overnight session low of $1,207.40 and off a high of $1,225.10.
Natural gas prices carried Wednesday's gains into Thursday after updated weather-forecasting models continued to call for cooler temperatures to trek across the U.S. in October. Natural gas futures were likely to find support at $3.845 per million British thermal units, Tuesday's low, and resistance at $4.100, the high from Sept. 17.

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