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Yellow Metal Logs Minor Fall Post Rising a Day Ago

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Yellow Metal Logs Minor Fall Post Rising a Day Ago

October 10
18:00 2014

goldNew Delhi, Friday, October 10 – The up and down scenario continued in the bullion market today as well. The yellow metal that augmented by 0.72% to stay a little bit beyond INR 27,000 mark per 10 gm lost its footing on Friday.

In view of the fact that investors enclosed increase in the midst of a feeble global fashion, gold futures skidded by 0.23%, making it slightly come below to INR 26,897 per ten gm. More to the point, the precious metal for delivery after a couple on months plummeted by INR 61, or 0.23%, to INR 26,897 per ten gm at the MCX.

Following the same trend, the gold for delivery in 2nd month of first quarter (2015) sank by INR 41, or say, 0.15%, to be slightly above at INR 27,000 per ten gm in 13 lots. As anticipated earlier, this trend of rise and fall in the price of gold will be witnessed for more than a few months as general public and jewelers start purchasing the metal to fulfill festive or wedding season demands. If demand soars, prices will go up. However, if vise-versa happens then chances of observing insignificant slumps also remain.

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