Gold can move sideways on volatile path tracking mixed fundamentals.
On domestic bourses it can move in Gold range of 28100-28600 while Silver can hover in range of 41400-42500 in MCX.
On domestic counter stronger local currency rupee can cap the upside.
Gold headed for a weekly gain as unrest in Ukraine spurred haven demand and assets in the SPDR Gold Trust expanded for the first time in a month.
Gold sank 28 percent last year on expectations that the Federal Reserve will further reduce bond purchases as the economy improves. While data yesterday showed fewer Americans filed claims for jobless benefits last week, a separate report showed industrial production unexpectedly fell in April.
The fewest Americans in seven years filed applications for unemployment benefits last week. Gold tumbled 28 percent in 2013, the biggest annual decline since 1981, as equities rallied to a record and the economy gained.
www.punjiniveshonline.com
On domestic bourses it can move in Gold range of 28100-28600 while Silver can hover in range of 41400-42500 in MCX.
On domestic counter stronger local currency rupee can cap the upside.
Gold headed for a weekly gain as unrest in Ukraine spurred haven demand and assets in the SPDR Gold Trust expanded for the first time in a month.
Gold sank 28 percent last year on expectations that the Federal Reserve will further reduce bond purchases as the economy improves. While data yesterday showed fewer Americans filed claims for jobless benefits last week, a separate report showed industrial production unexpectedly fell in April.
The fewest Americans in seven years filed applications for unemployment benefits last week. Gold tumbled 28 percent in 2013, the biggest annual decline since 1981, as equities rallied to a record and the economy gained.
www.punjiniveshonline.com
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