Gold sank 2 percent on Thursday, as month-end book squaring and relentless liquidation by institutional investors sent bullion prices below USD 1,200 per ounce for the first time in nearly three years.
Gold reversed early gains in New York trade, and the slide accelerated with stop-loss orders triggered after the price fell below USD 1,225 an ounce.
In the Forex market, gold price are red and trading in low of dollar $0.99 at now while its bid price is 1203.89 at 11:15 in the morning. While silver have been recovering its loss and open in up trend in the forex market.
Indian commodity market is affected due to economic positions of bullion in the international market while dollar prices are down by -0.66% against Indian economy.
MCX gold prices are trading in down by 147 and its trading price of Aug contract is Rs. 25228 Rs at now in the market, while silver price is bullish and trading in Rs. 39085 with profit of 289.00 points in the exchange.
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Sell Crude Oil Jul below 5820 Targets 5810/5800/5790 Stop Loss 5835
Sell Natural Gas Jul below 215 Targets 214.50/214/213 Stop Loss 216
Sell Gold Aug below 25250 Targets 25100/25000/24900 Stop Loss 25360
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