December 14, 2017

MTECHTIPS

 

MTECHTIPS:Gold to remain volatile on unresolved US fiscal cliff issue

 

According to the research firm,in the intra-day, precious metals are expected to remain volatile as the US fiscal cliff issue remains unresolved as the deadline to avert the same nears.On the MCX,Gold Feb contract ended 0.7 percent lower on account of appreciation in the Indian rupee and traced bearishness in the spot gold prices.Gold prices on the MCX closed at 30,663/10 gms on Friday after touching a weekly low of 30,621/10gms.Strength in the DX also acted as bearish factor of the gold prices. However,gains were witnessed in the early part of the week on the back of safe haven buying by the market participants as US fiscal cliff issue stands unresolved as the deadline nears.

 

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