Wednesday, August 5, 2009

India gold futures up 0.2%; physical demand weak

Published on 2009-08-05 17:06:08



Singapore - India October MCX gold contract up 0.2% at INR14,921/10 grams as traders buy on expectation of further rise in prices. "Gold futures will trade above INR14,900 on dollar weakness and strong technicals," says Kapil Gandhi of STCI Commodities; adds, prices could rise to INR15,080 today. High prices to lower demand for jewelry; traders expect India's gold imports in August to be below 7-8 tons imported in July.



http://www.moneycontrol.com/commodity/comm_news.php?autono=103708&type=MKT

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