Gold prices falls as physical buying from 2-month high

Gold prices falls as physical buying from 2-month high

Gold dropped on Wednesday as physical buying, investors sold contracts to allocate profits from the escalation of the previous session that took prices to a maximum of two months. While a drop in equity markets on back of renewed concerns over Iraq caused other investors to take advantage of the profits.

Spot gold fell 0.4 percent to $ 1312.05 an ounce at 0944 GMT, while U.S. gold futures for delivery in August fell $ 8.70 to $ 1312.60 an ounce.

At the Multi Commodity Exchange, gold for delivery in August declined by Rs 94, or 0.34 per cent, to Rs 27,637 per ten gram. While, silver for delivery in September fell further by Rs 300, or 0.67%, to Rs 44,703 per kg.

On U.S. Silver for September delivery shed 0.92%, or 19.4 cents, to trade at $20.90 a troy ounce., compared to maximum of three months of $ 21.14 an ounce yesterday.

Gold jumped to $ 1326.60 on Tuesday, its highest level since April 15, before paring gains to close at $ 1321.30, up 0.22%, or $ 2.90.

A spot gold price was down slightly by 0.4 percent in the trading session morning as the strong U.S. economic data and rising risk appetite in the global markets. Besides weak physical demand kept prices under pressure. However, increasing geopolitical tension in Iraq and row between Russia and Ukraine upsurge in demand for safe haven. In addition, the Federal Reserve cut its forecast for economic growth, indicating that the lowest interest rate may stay for quite some time muted sharp decline in prices.


For latest Gold market 100% accurate tips, mcx tips,  news & updates  with 100McxTips Commodity Trading Advisory, follow us on Twitter ( and on Facebook at (


MCX Commodity Tips is an experienced Commodity Research Advisory to predict investors buying and trading trends at various market environments. For free trial advisory on commodity Gold, Silver, Crude, Copper and all Indian Commodities kindly visit us and submit an query form at commodity free trial tips here.

Posted in Commodity, MCX

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

Free Crude Oil Tips
Free Trial Crude Trading Tips
Contact & Visit Info
M-Sat : 10am - 7pm

Error: Twitter did not respond. Please wait a few minutes and refresh this page.

NG Trading Tips
Free Trial Commodity Tips
Disclaimer: 100McxTIps would like to remind you that the data contained in this website is not necessarily real-time nor accurate. Bulloin Futures prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore 100McxTips doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .
%d bloggers like this: