Wednesday, February 10, 2016

Mcx Gold futures overview for 10 feb, 2016

Mcx Gold futures ended with slim losses in the local market on yesterday as investors and speculators resorted to profit booking in the precious metal, at existing levels, after a stellar rally in the previous session when prices increased over 3 per-cent as heightened worries over global economic growth bolstered gold’s secure haven appeal.

Gold Bulls have been resurgent in latest sessions as plunging world equities and a worsening oil rout bolstered the investment appeal of the bullion.

An appreciation in the indian rupee against the dollar more than offset the gains witnessed in the precious metal in the overseas market. Stronger INR(rupee) comparion to greenback tends to exert upward pressure on domestic bullion prices.

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