Share market tips - Today, The yellow metal continued its stellar run with prices spiking 1.5 per cent during late morning trade in the domestic market as a worsening global equity rout amid heightened fears of a China slowdown, sapped the lure for risky assets, bolstering the safe haven appeal of Gold.
 |
| Share market tips |
Asian stocks went down to a 17-month low while the S&P 500 index succumbed to its biggest loss since February 2014 overnight as investors shunned risky assets amid signs of faltering global growth.
China’s manufacturing slump worsened in August month , with the index shrinking the most since early 2009, raising further concerns over the health of the world’s second biggest economy. A weaker dollar also boosted the demand for Gold as an alternative asset. Weaker greenback makes the bullion cheaper for those holding other currencies, thus bolstering demand.
China’s manufacturing slump worsened in August month , with the index shrinking the most since early 2009, raising further concerns over the health of the world’s second biggest economy. A weaker dollar also boosted the demand for Gold as an alternative asset. Weaker greenback makes the bullion cheaper for those holding other currencies, thus bolstering demand.
At the MCX, October 2015 contract for Gold futures is trading at Rs 27,252 per 10 gms, up by 1.50 per-cent after opening at Rs 27,145, against its previous closing price of Rs 26,849. It attained the intra-day high of Rs 27,287 at 11:30 am.
No comments:
Post a Comment