After
yesterday's sharp decline in crude oil has improved today. US durable
Guds and GDP data is expected to improve the prices received support.
While
MCX gold is trading at Rs 26553 by 0.20 percent weaker. Physical
demand is getting support from the Chinese prices.
Domestic
prices and the weakening rupee advantage. In the international
market, while silver is up to $ 15.50 per cent to 0.25 MCX Silver is
trading above the 36 thousand 200.
Most
metals are now looking weak on MCX. Nickel is the most weakness which
has dropped more than one percent.
Seed Newsvine
Gold advanced the most in more than two weeks amid speculation that China, the world’s biggest consumer, will take more measures to bolster the economy, boosting demand for the precious metal as a store of value.
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India has almost achieved its yearly allocated fiscal deficit target i.e. 99% of the target assigned which is 4.1% of the GDP. Fiscal deficit is the difference between the governments income and expenditure. Chief economic advisor Mr. Arvind Subramaniam has indicated that government will reduce its fiscal expenditure to remain close to its target.
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