Falling Trend Continues for Yellow Metal again

November 20 15:16 2014

gold newNew Delhi, Thursday, November 20 – Rates of yellow metal appear to follow the falling trend as it descended by more than one percent to hit at the mark of INR 26,441 per ten gm at the futures trade observed on Thursday as soon as partakers sold positions, getting pathetic indications from the worldwide market.

The precious metal for delivery after a month lost its footing by INR. 270 to be a little bit lower that INR 26,500 mark in a business turnover of 486 lots at the MCX.  In the same way, its delivery in the second month of 2015 skidded by INR 250 to INR 26,699 per ten gm in 52 lots.

Internationally, the metal changed hands being down at $1,181.55 per ounce in Singapore that is a tad lower from $1,182.68, which was seen a day ago. Despite the fact that gold is not getting its shine back on more than a few occasions, experts predict it to bounce back and snap the slump, taking into consideration the peak wedding season, wherein demand for both gold and silver is usually up.