Gold
Gold jewellery exports fall 70 percent in July- GJEPC
• The Gems and Jewellery Export Promotion Council (GJEPC) said that the exports of gold have reduced by 70 percent in July due to non availability of
raw material , whereas silver exports have doubled during the same period
• The total gems and jewellery exports fell 17 percent to $2.49 billion, with gold exports falling to $441 million from $1.5 billion a year ago
gold rates
• Expectations of restart of gold imports by next week are doing rounds in the market.
• On the other hand, Silver jewellery exports surged 184 percent to $109.69 million .
Outlook
• Gold prices are expected to trade on a positive note in this week on the back of rise in physical demand coupled with increase in SPDR holdings.
• Further, weakness in the DX willsupport an upside in prices.
• Additionally, upbeat global market sentiments will act as a positive factor.
• In the Indian markets, depreciation in the Rupee will lead to positive movement in prices on the MCX.
Weekly Technical Levels
• Spot Gold : Support $1383/$1366 Resistance $1414/$1432 (CMP: $1397.10)
• Buy MCX Gold October between 31350-31300 SL-30900, Target -32,400. (CMP: Rs.31785)
mcx tips
Gold jewellery exports fall 70 percent in July- GJEPC
• The Gems and Jewellery Export Promotion Council (GJEPC) said that the exports of gold have reduced by 70 percent in July due to non availability of
raw material , whereas silver exports have doubled during the same period
• The total gems and jewellery exports fell 17 percent to $2.49 billion, with gold exports falling to $441 million from $1.5 billion a year ago
gold rates
• On the other hand, Silver jewellery exports surged 184 percent to $109.69 million .
Outlook
• Gold prices are expected to trade on a positive note in this week on the back of rise in physical demand coupled with increase in SPDR holdings.
• Further, weakness in the DX willsupport an upside in prices.
• Additionally, upbeat global market sentiments will act as a positive factor.
• In the Indian markets, depreciation in the Rupee will lead to positive movement in prices on the MCX.
Weekly Technical Levels
• Spot Gold : Support $1383/$1366 Resistance $1414/$1432 (CMP: $1397.10)
• Buy MCX Gold October between 31350-31300 SL-30900, Target -32,400. (CMP: Rs.31785)
mcx tips
Today tip for MCX
ReplyDeleteSELL COPPER (NOV.) BELOW 431.00 TG-429.50/427.50/425.00 SL-433.50
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