Gold Gain in Logest Run in the week

Asian equities closed on a moderately positive note as the data showed Japan’s economy exited recession whereas the opposite is what seems to be true for European equities which are trading in deep red led by Greece equities on skepticism that a debt agreement is within reach.

Dollar Index too is seen trading marginally lower around 94.05 marks. The volatility is expected to remain relatively low during the evening session due to lack of major data and hence advice traders to look for small entry and exit opportunities.

 

MCX Gold futures stayed supported amid a continued recovery in the global prices today.The counter recovered from a one month low last week and extended their gains amide scalating geopolitical worries. The latest figures from World Council (WGC) indicated that the gold demand around the world picked up in Q4 2014 though overall interest in physical gold remained muted following a massive slide in Jewellery demand. The sentiments remained supportive in Asia following continued worries over Greek debt jitters.COMEX Gold trades at $1233 per ounce, up $6 per ounce on the day. MCX Gold futures aretrading at Rs 26813 per 10 grams up Rs 122 per 10 grams on the day. MCX Silver is tradingat Rs 38260 per kg, up Rs 56 per kg on the day.

In Energy, Crude oil too was little moved as NYMEX WTI electronic session prices added marginally to $53 per barrel level

from the base metals sector, no major movement has been witnessed during the day with most of the metals trading on the lower side with an exception to Zinc which is marginally up by around 0.3% from its previous close.