CO:Precious metals turn positive on worst economical situation
AHMEDABAD (Commodity Online): German push to remodel Europe, this news increase the uncertainties in world economical situation. Traders and investors in international market rush to buy Precious metals on fear further development in Euro debt issue.
Market focus was emphasized on the developments in Europe, as the Euro zone ministers failed to boost IMF resources to a targeted 200bn euros. MCX Gold February delivery contract rose by
0.34 percent to 27829 rupees per 10 grams.
Gold prices traded directionless, suppressed by a stronger US Dollar and prevailing uncertainty regarding European debt crisis. MCX Gold prices are expected to trade in range of 27000-28000 in coming weeks due to uncertain economical outlook, informed Amrita Mashar, analyst with Commodity Online.
