The fall in gold has improved FOMC before the meeting. Domestic and global market price of gold has drop about 0.5 per cent. MCX gold price has come down to Rs 26 750.
June 17, 2014 (Newswire) - • The fall in gold has improved FOMC before the meeting. Domestic and global market price of gold has drop about 0.5 per cent. MCX gold price has come down to Rs 26 750.
• QE FOMC The meeting is predictable to decide on the cut. The dollar rally has come. QE let me tell you the reason why gold prices during 2008 and 2011 were about 70 per cent. But, after deduction of gold is gradually failing. Silver has gone too fast and now it has decreased. MCX silver fell 0.3 per cent to Rs 42,000 has occurred.
• Crude gold not only in the global market has also come under pressure. No support from a weaker rupee in the domestic market has seen. NYMEX crude is under $ 107. Even Brent crude is trading below $ 113. MCX crude oil by 0.2 per cent to around Rs 6,450 with modest gains. Natural gas prices through the flat are around Rs 285. Notably they do not see that Iraq's case is resolved. Meanwhile, the U.S. has exposed military intervention.
• MCX base metals except nickel in the metal are showing good increase. Copper increase 0.5 per cent to Rs 410 is approaching. Aluminum 0.4 per cent, 0.25 per cent lead and zinc fallen 0.2 per cent.
• Rupee decrease has accelerated in food oils. Crude palm oil and soya oil in the domestic market has an upswing. Last week, both soy oil and crude palm oil prices had climbed nearly 2 per cent.MCX Crude Palm oil prices above Rs 525 with a gain of nearly 1 per cent is reached. The July futures on NCDEX soy oil gained 0.25 per cent is trading at Rs 683.6.