Gold prices trade on firm ground
Gold prices are trading on a firm ground even though
the dollar gained against the euro, the yen, and the pound. The firming
up of the gold prices was helped by weakness in US equities and deadlock
over recapitalisation of an Italian bank. It is currently trading at Rs
27,300.
In terms of US macro numbers, metro area home prices increased modestly
in October, while consumer confidence data rose to its highest level in
15 years. On the negative side, pending home sales for November
contracted by 2.5% on mom basis. For the balance of this week, the
trading conditions are likely to remain uneventful given the lack of
market participation ahead of the year end.
The Chinese, a major consumer of gold, and a significant buyer of
dollars, in the past, told the media in Beijing that there could be
trade friction with the US after the appointment of Prof. Navarro, who
has been critical of Chinese trade practices as industrial policy
advisor.
If you want to more information regarding the Stock cash tips, Stock tips, Nifty tips, Commodity tips, equity tips call @8109999233 or fill form http://equityresearchlab.com/Freetrial.php please drop your number for profit calls...?
No comments:
Post a Comment