Mcx Commodity Gold prices in India with Khelomcx comeoff record highs.



Mcx Commodity Gold prices in India with Khelomcx comeoff record highs.

·         Gold prices had surged to a record high in India on Friday
·         In Budget 2019, the govt increased import duty on gold

Mcx Commodity Gold prices in India were marginally higher today but sharply off their record highs hit on Friday. On MCX, August Mcx Commodity gold futures were trading marginally higher at ₹34,608. On Friday, Mcx Commodity gold futures hit a record high of ₹35,100, before paring some gains. In Budget 2019, which was presented on Friday, Finance Minister Nirmala Sitharaman increased import duty on gold to 12.5%, from 10%, leading to a spike in domestic McxCommodity gold prices. But record high gold prices could not be sustained amid weak global prices and sluggish demand at higher levels.
Dealers in India, the world's second biggest gold consumer after China, were offering discounts to the landed price of gold amid lacklustre demand in the physical market, say analysts.
"The move to rise import duty on gold came as a surprise, which lead to a spike in domestic gold prices which were trading discount to the landed price on the back of lacklustre demand in physical market. Domestic Mcx Commodity gold prices have risen by 15% since December 18," said Kishore Narne, head of commodities and currency at MOFSL.

Narne continues to hold to his bullish view on Mcx Commodity gold on the back of trade war, falling interest rates and rising geo-political concerns.

Mcx-Commodity-Gold-prices-in-India-with-Khelomcx
http://khelomcx.com/

For daily based free gold best and 90% accurate trading ideas on MCX and NCDEX get us on here: http://khelomcx.com.
Pritam Patnaik, head of commodities at Reliance Securities, said he also expects Mcx Commodity gold prices to remain firm. “We see physical demand for gold coming down due to high prices. However prices of Mcx Commodity gold will continue to remain firm," he said.
In global markets, spot gold prices remained sluggish below $1400, trading 0.1% lower at $1,398.33 an ounce. Mcx Commodity Gold had seen a sharp fall in Friday after US jobs growth rebounded strongly in June. Now, analysts are lowering the possibility of an interest rate cut by the Federal Reserve this month. Mcx Commodity Gold is highly sensitive to interest rates and a lower chance of a cut would increase the opportunity cost of holding the non-interest-bearing bullion. Adding pressure on gold, the dollar has also been on an uptrend against a basket of six major currencies.

KheloMCX : Best Mcx Gold TipsProvider
To contact the KheloMCX Advisory Or Free trial Advisory Visit KheloMCX.com.



Comments

Post a Comment

Popular posts from this blog

Mcx News With Khelomcx:- Mcx Gold dips on firmer dollar, profit-taking; focus on ECB outcome.

Image
Mcx News With Khelomcx:- Mcx Gold dips on firmerdollar, profit-taking; focus on ECB outcome . http://khelomcx.com/ Mcx Gold prices eased on Thursday as the US dollar hovered near multi-week highs, while some investors locked-in profits ahead of major central bank meetings this month.  The European Central Bank is meeting later in the day, followed by the US Federal Reserve next Tuesday-Wednesday.  Spot Mcx Gold was down 0.2 per cent at $1,422.80 per ounce, as of 0303 GMT. US gold futures were down 0.1 per cent at $1,422.90.  "From last three days, Mcx Gold prices have been range-bound. Some money managers are starting to shut some positions to prepare for the Fed meeting, and also the ECB decision coming out today," said Benjamin Lu, analyst, Phillip Futures.  "Before the key events happen, people like to take in some profits because nobody knows what is going to happen. Some might capitalise on volatility to push prices slightly lower an...
Read more

Mcx Gold Rate Today: Mcx Gold futures hit record high on positive global cues .

Image
Mcx Gold Rate Today with Khelomcx: Mcx Gold futures hitrecord high on positive global cues . Mcx Gold futures inched up in early trade on Monday, taking support from positive global trends and amid brisk buying by jewellers in the spot McxCommodity market .  The government on Friday proposed to increase import duty on mcx gold to 12.5 per cent. The yellow metal and other precious metals could get expensive in the domestic market as a result of this. http://khelomcx.com/ For daily based free gold best and 90% accurate trading ideas on MCX and NCDEX get us on here:  http://khelomcx.com . Ahead of the Budget, India's gold imports declined by 3 per cent. The duty hike came at a time when the industry was demanding a cut in the custom levy. Mcx Gold tips provider in futures had hit a record high of Rs 35,100 in domestic market on Friday.  In global Mcx Commdity markets , gold prices steadied after hitting a one-week high in Friday’s se...
Read more

KheloMCX presents a guide for how to trade in mcx commodity market.

Image
KheloMCX presents a guide for how  to trade in  mcx commodity market . Beginners Guide How to Commodity Trading in India. Before invest or trading in a commodity market, you should gather as much information as possible about the market, as well as about the mechanics of investing in the commodities. You can get answer to such questions directly by contact to the  KheloMCX  advisory or learn commodity trading procedure step by step here. Step 1 :  Learn Commodity Trading Procedure . http://khelomcx.com v    Give a call and talk to  KehloMCX  market advisory about trading in commodity future.                                        v    We’ll give you clarification about Multi Commodity Exchange of India(MCX). v    MCX is an Indian electronic trading and settlement system with an international...
Read more