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Thursday, 30 October 2014

Live MCX Tips Updates; Gold February contract slips 1%

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MCX GOLD December contract was trading at Rs 26748 down Rs 331, or 1.22 percent. The GOLD rate touched an intraday high of Rs 26990 and an intraday low of Rs 26714. So far 6466 contracts have been traded. GOLD prices have moved down Rs 1073, or 3.86 percent in the December series so far.
MCX SILVERM November contract was trading at Rs 37521 down Rs 778, or 2.03 percent. The SILVERM rate touched an intraday high of Rs 38220 and an intraday low of Rs 37405. So far 22569 contracts have been traded. SILVERM prices have moved down Rs 12675, or 25.25 percent in the November series so far.
Gold, often seen as an alternative investment during economic and financial uncertainty, fell on fears the vote of confidence in the recovery could prompt the Fed to raise interest rates soon. Bullion, as a non-interest-bearing asset, could take a hit when higher rates are in place.

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