December 11, 2017

MTECHTIPS

MTECHTIPS:Gold prices near one-month low

Gold importers in India booked deals for the peak wedding season as prices stayed near their lowest level in a month, eyeing the key parliament vote on entry of foreign super markets and its impact on the rupee.People are targeting Rs 30,500 level seen during Diwali or in early November, the dealer said.The most-active gold for February delivery MCX was 0.16 percent higher at Rs 31,417 per 10 grams recovering partly from previous session’s low of Rs 31,345, the lowest since November 6.
A stronger rupee kept a lid on gains. The rupee plays an important role in determining the landed cost of the dollar-quoted yellow metal.

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