There has been a huge decline in gold and silver in the domestic futures market. On Monday, around 11.15 pm on the Multi Commodity Exchange (MCX), gold's contract fell by Rs 367, or 1.15 per cent, to Rs 31,424 per ten gram. On the MCX, silver for July delivery fell by Rs 437, or 1.19 per cent, to Rs 36,140 per kilogram.
Talking about the international markets, the spot price of gold was trading around 1276 dollars per ounce without changes. Gold price is stable at two weeks' low level. However, there was a sharp decline in gold in the last session.
Consumer Confidence has reached the height of 15 years in the US in early May. This indicates that the American economy is in a strong position. This has reduced the safe investment demand of gold.
Jaiprakash Gupta, director of brokerage firm Manalias, says that after the exit poll results, the rupee has gained momentum. Apart from this, gold prices in the overseas market are around $ 1275. In such a case, sell gold at MCX on June 31, about Rs 31,450 in contract.
In the next two trading sessions, gold prices could show a level of Rs 31,000 per ten grams. Significantly, the outcome of the exit polls has again been expected to come in the Modi government's rule. On the other hand, the holdings of SPDR increased by 0.40 per cent to 736.17 tonnes on Monday. The SPDR is the world's largest gold fund.
For regular stock market updates Best Advisory Company in Indore
Talking about the international markets, the spot price of gold was trading around 1276 dollars per ounce without changes. Gold price is stable at two weeks' low level. However, there was a sharp decline in gold in the last session.
Consumer Confidence has reached the height of 15 years in the US in early May. This indicates that the American economy is in a strong position. This has reduced the safe investment demand of gold.
Jaiprakash Gupta, director of brokerage firm Manalias, says that after the exit poll results, the rupee has gained momentum. Apart from this, gold prices in the overseas market are around $ 1275. In such a case, sell gold at MCX on June 31, about Rs 31,450 in contract.
In the next two trading sessions, gold prices could show a level of Rs 31,000 per ten grams. Significantly, the outcome of the exit polls has again been expected to come in the Modi government's rule. On the other hand, the holdings of SPDR increased by 0.40 per cent to 736.17 tonnes on Monday. The SPDR is the world's largest gold fund.
For regular stock market updates Best Advisory Company in Indore
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