In Indian MCX gold futures shed about 1% on Monday weighed by strength in the rupee, which reversed from its record low hit last week, but physical intraders were unwilling to book deals awaiting further price falls. More Information about mcx tips visit my site mcx-trade-tips.blogspot.com
* At 01:46 p.m., the most-traded silver for Aug shipping on the Multiple Investment Exchange (MCX) was 0.56% lower at Rs 29,806 per 10 h, after dropping to as low as Rs 29,720 previously.
* The rupee rallied on Mon on wants govt actions to stop a downturn in the forex. The rupee performs an important part in identifying the arrived cost of the dollar-quoted silver.
* "There is no need at present stages. Who will buy at near history great levels?," said a supplier with a personal financial institution in Mumbai.
* Cost balance at Rs 28,000, about 6% reduced than the present price, could restore customers, the supplier included.
* Demand could also remain sluggish in the coming months as the onset of the rains curtail festive and wedding activity. Traders were also tracking the progress of monsoon rains to forecast upcoming wedding and festival demand.
* Monsoon down pours are still expected to be average this year, allaying issues over town outcome activated by rare rain in the last few weeks.
* Non-urban areas, which give rise to over 60% of silver demand, are reliant on monsoon down pours to encourage farming production and non reusable earnings.
* Silver also fell in tandem with MCX gold.
* MCX Silver for July delivery on the MCX was 0.98% lower at Rs 52,430 per kg.
* At 01:46 p.m., the most-traded silver for Aug shipping on the Multiple Investment Exchange (MCX) was 0.56% lower at Rs 29,806 per 10 h, after dropping to as low as Rs 29,720 previously.
* The rupee rallied on Mon on wants govt actions to stop a downturn in the forex. The rupee performs an important part in identifying the arrived cost of the dollar-quoted silver.
* "There is no need at present stages. Who will buy at near history great levels?," said a supplier with a personal financial institution in Mumbai.
* Cost balance at Rs 28,000, about 6% reduced than the present price, could restore customers, the supplier included.
* Demand could also remain sluggish in the coming months as the onset of the rains curtail festive and wedding activity. Traders were also tracking the progress of monsoon rains to forecast upcoming wedding and festival demand.
* Monsoon down pours are still expected to be average this year, allaying issues over town outcome activated by rare rain in the last few weeks.
* Non-urban areas, which give rise to over 60% of silver demand, are reliant on monsoon down pours to encourage farming production and non reusable earnings.
* Silver also fell in tandem with MCX gold.
* MCX Silver for July delivery on the MCX was 0.98% lower at Rs 52,430 per kg.
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