Gold Price Extends Recovery from 10-Month Lows as U.S. Dollar Pulls Back

Gold Price Extends Recovery from 10-Month Lows as U.S. Dollar Pulls Back

Price of gold extended recovering from its lowest level in 10 months on Monday trade,  as the U.S. dollar pulled back from recent highs.

Spot Gold rose 0.46 per cent to USD 1,139.80 an ounce.

Gold for February delivery on the Comex tacked on $4.55, or 0.4%, to $1,141.95 a troy ounce, after rising $7.60, or 0.67%, in the prior session.

The dollar index, which tracks the dollar’s strength against the six major currencies, was down 0.3% at 102.60 in early trading, down from the highest level last week, 14-year-old from 103.55, , raising appeal of the precious metal as a safe haven and a wave of profit booking kicked in the future of the year-end holidays.

Gold metal was trading 0.12 per cent, or Rs 33, higher at Rs 27,197 per 10 gm , as the US dollar declined from a 14-year peak against a basket of currencies.

Indian bullion Traders said that the decline in Price of gold to lukewarm demand from the jewelry as well as retailers in the local spot market after the end of the season of weddings and liquidity crisis prevailing in the market, but having a consistent trend overseas culminated the fall.

For Commodity Market Tips, MCX Live Tips, Gold-Silver Prices and trading market latest news & updates  with 100McxTips, follow us on Twitter @100mcxtips and Like on Facebook.  And to contact the reporter on this story email at or Call: +91-761-4012307.

MCX Commodity Tips


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, Stocks Market

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: