MCX Gold News Today

Gold held a moderate rebound on Tuesday after dropping more than 1 % in the previous session, but the precious metal was still going for its biggest yearly decrease since 1981 because traders shifted money to stocks.

Gold included $2.80 an ounces to $1,198.80 by 0255 GMT, but was set to end this season down around 28 %. Prices were sharply reduced than all-time peaks above $1,900 this season, when a worsening debts problems in European countries stimulated purchasing.

Today’s Trend for Gold
GOLD (FEB)
Trend: Consolidate | Strategy: Buy on dips
R1- 28770, R2- 29150| S1-28050, S2- 27780

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Gold slopes down on Monday, heading for its biggest annual loss in more than three decades at nearly 30 percent, as firm equities and the prospect of a recovery in the global economy stole its shine.

Silver for immediate delivery slid 1 percent to $19.887, tumbling 34 percent this year for the biggest loss since 1981. Platinum fell 0.4 percent to $1,370 an ounce, down 11 percent this year. Palladium was little changed at $711.70 an ounce and is poised to gain 1.1 percent in 2013.   

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Gold surrounded up on Friday, reinforced by some actual buying, but stayed on monitor for its greatest yearly loss in three years as rallies in stocks and leads of international financial restoration damaged its attraction.
Gold was up 0.19 % to $1,213.45 at  (2140 GMT), while U.S. gold futures trading for Feb distribution resolved up 0.1 % at $1,214.00 an ounces.

While the metal silver has reduce a third of its value in 2013, which tends to monitor gold's activity.
Silver metal risen to $19.92 an ounces from $19.33. On the London, Platinum and Palladium Market, platinum improved to $1,374 an ounces from $1,328.

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Gold was little modified in slim trade on Friday, going for its greatest yearly loss in more than 30 decades as desires of a international financial restoration and rallies in stocks hole its attraction as an alternative investment.
Gold hit an intraday low around $1,208 an ounces before standing at $1,210.46 by 0256 GMT, stable from Thursday. The metal moved record peaks above $1,900 this year, when difficult debt problems in European countries stimulated a buying rush. 

In other marketplaces, Asian marketplaces were having difficulties to match the performance of Wall Street on Friday even as Japanese economic data impressed and the dollar examined the 105 yen hurdle for the first time in five decades.

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