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  1. #1
    Junior Member

    Gold prices update: Gold rates in Indian metro cities !!!

    At 13:09 hours IST MCX GOLD August contract was trading at Rs 26687 per 10 gram, down Rs 333, or 1.23 percent. The GOLD rate touched an intraday high of Rs 27000 and an intraday low of Rs 26650. So far 16507 contracts have been traded. GOLD prices have moved down Rs 5540, or 17.19 percent in the August series so far.

    MCX GOLD October contract was trading at Rs 26824 down Rs 338, or 1.24 percent. The GOLD rate touched an intraday high of Rs 27131 and an intraday low of Rs 26801. So far 487 contracts have been traded. GOLD prices have moved down Rs 5026, or 15.78 percent in the October series so far.

    In Chennai, prices of gold 995 and gold 999 fell by Rs 200 each to Rs 27350 and Rs 27460 per 10 gram on Monday.

    In Ahmedabad market, the rate of gold 995 declined by 280 to Rs 26,990 and gold 999 slipped by Rs 275 to 27,120 per 10 gram.

    Source: tradingtipsexpert.wordpress.com

  2. #2
    Legendry Member milos's Avatar
    Quote Originally Posted by harreymartin View Post
    At 13:09 hours IST MCX GOLD August contract was trading at Rs 26687 per 10 gram, down Rs 333, or 1.23 percent. The GOLD rate touched an intraday high of Rs 27000 and an intraday low of Rs 26650. So far 16507 contracts have been traded. GOLD prices have moved down Rs 5540, or 17.19 percent in the August series so far.

    MCX GOLD October contract was trading at Rs 26824 down Rs 338, or 1.24 percent. The GOLD rate touched an intraday high of Rs 27131 and an intraday low of Rs 26801. So far 487 contracts have been traded. GOLD prices have moved down Rs 5026, or 15.78 percent in the October series so far.

    In Chennai, prices of gold 995 and gold 999 fell by Rs 200 each to Rs 27350 and Rs 27460 per 10 gram on Monday.

    In Ahmedabad market, the rate of gold 995 declined by 280 to Rs 26,990 and gold 999 slipped by Rs 275 to 27,120 per 10 gram.

    Source: tradingtipsexpert.wordpress.com
    India is the largest gold buyer in the world.Investor still cautious because of speculation that the Fed will start in the coming months to reduce the program of quantitative easing.The movement in gold price this year largely follow the expectation that the Central bank will the U.S. to end it's bond buying program earlier than expected.End of stimulus will blow of gold,because the stimulated demand of investors who are buying precious metals to protect against inflation risk loose monetary policy.After minor repairs at the beginning of the Asian trade session gold price again began to fall.During the last week the price of precious metal fall 6.8% which makes this the worst week for gold in September 2011.Statement by the Chairman of the Federal Reserve about of possible reduction program of quantitative easing in the United States influenced the decline in the price of gold as it is known in the market for his role as an inflation hedge.

  3. #3
    Rookie Member
    There is an article - Stunning Images From China: Ten Thousand People Waiting In Line To Buy Gold (freerepublic.com/focus/bloggers/3031713/posts). Is this China madness real? Here in Europe we have a media cover blackout.

    Click image for larger version. 

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  4. #4
    Rookie Member
    Well gold is a commodity that is traded on world markets- thus an ounce of gold should be worth the same regardless of where it is bought or sold (unless there are trade restrictions in place). If there was a different price in one market there would be an arbitrage opportunity that would be exploited until the regional price coincided with the world price.

    http://www.forextrading.pk/gold-rates-pakistan.php

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