1/30/2013 01:00:00 PM
Anonymous
The Indian Rupee appreciated by 0.7 percent in yesterday’s trading session. The currency appreciated on the back of cut in the repo rates and reverse repo rates by the central bank which led to increase in expectations of more foreign inflows.
MCX gold for delivery on February 13 was seen trading at Rs.30284/ 10 grams a gain of 0.15%
MCX Bullion Today : Gold Silver Trend -
In today’s session, we expect precious metals to trade higher on hopes that the US Federal Reserve might continue its bond buying program until first quarter of 2014 to bolster growth of the economy.
Apart from this, weakness in the DX is expected to push prices upwards. In the domestic markets, appreciation in the rupee is likely to cap gains in the precious metals.
NCDEX Tips : Castor Seed Tips -
The overall trend of castor seed on the NCDEX is looking negative in near term. The commodity is expected to trade positive if it breaks and sustain above 3620 level. Support for castor seed is seen at 3490 level. Long term traders should enter buying side only above 3620 level
