Published on 2009-06-29 17:11:25
Singapore - India August MCX gold contract little changed at INR14,624/10 grams, reversing losses following recovery in overseas spot gold prices. "Crude prices have been supportive for gold and contract likely to move in INR14,550-INR14,700/10 grams range today," says Kapil Gandhi, trader with STCI Commodities; adds INR gains will keep prices subdued. India's gold imports in June likely down 58% on year to around 10 tons despite fall in prices, indicating weak domestic demand, says Suresh Hundia, president of Bombay Bullion Association.
http://www.moneycontrol.com/commodity/comm_news.php?autono=100816&type=MKT
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