Crude under $ 50 and Gold again Down in International Market

 

MCX India Trading Calls

 

The Gold and silver prices in the international market continues to round of selling. Tuesday after Monday’s steep drop in session and also seeing sell-off in gold prices. Monday 5-year low on gold to 4 percent was reached. While 14.7 percent fall to $ 0.25 per ounce silver level came. In addition there is constant pressure to crude oil prices. Crude slipped below $ 50.

The sudden sell-off in Shanghai and New York gold prices have increased. Crude prices also sharply as the dollar index remains under pressure. Comaks nearly 0.5 per cent at the moment, with gold at $ 1103 an ounce level seems. Gold prices in the domestic market fell by Rs 25 550 to Rs 300 per 10 grams have come. After nearly four years in the gold futures market trading below Rs 25,000 per 10 grams used to be.

The main reasons for this decline and the dollar rise in the selling of gold by China. Experts believe that as long as US interest rates are rising, while gold prices may continue to slump. However, he also believes that it is the right time to buy gold for domestic use.

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