Domestic Gold futures continued to shed as the Indian Rupee gained today ahead of the RBI monetary policy meeting tomorrow in which the central bank is expected to hike the CRR by 50 basis points.
India MCX February gold futures down 0.3% at INR16,395/10 grams on strong INR; at nearly two-month low. “The market is expected to stoop down toward INR16,350 levels in the near term,” says JRG Wealth Management in note; for day, likely to move in INR16,389-INR16,610 range. However, slight gains in overseas gold markets could aid recovery in domestic prices.
The Reserve Bank of India (RBI) will announce the third quarter review of the Annual Monetary Policy tomorrow. The repo rate (4.75%) and reverse repo rate (3.25%) are expected to be kept unchanged while the reserve requirement, i.e., cash reserve ratio (CRR, 5%), is likely to be increased by 50bps.
|
MCX |
Gold |
|
Symbol |
GOLD |
|
Expiry Date |
05 Aug, 2010 |
|
Last Traded Price |
16708 |
|
Unit |
10 GRMS |
|
Net Change |
0 |
|
Percentage of Change |
0% |
|
High |
0 |
|
Low |
0 |
|
Best Buy Price |
16542 |
|
Best Buy Quantity |
1 |
|
Best Sell Price |
16588 |
|
Best Sell Quantity |
2 |
|
Open Price |
0 |
|
Close Price |
16708 |
|
Open Interest |
44 |
MCX- Other Gold Contracts
|
MCX |
Gold |
|
Symbol |
GOLD |
|
Expiry Date |
05 Aug, 2010 |
|
Last Traded Price |
16708 |
|
Unit |
10 GRMS |
|
Net Change |
0 |
|
Percentage of Change |
0% |
|
High |
0 |
|
Low |
0 |
|
Best Buy Price |
16542 |
|
Best Buy Quantity |
1 |
|
Best Sell Price |
16588 |
|
Best Sell Quantity |
2 |
|
Open Price |
0 |
|
Close Price |
16708 |
|
Open Interest |
44 |
NCDEX-Other Gold Contracts
|
MCX |
Gold |
|
Symbol |
GOLD |
|
Expiry Date |
05 Aug, 2010 |
|
Last Traded Price |
16708 |
|
Unit |
10 GRMS |
|
Net Change |
0 |
|
Percentage of Change |
0% |
|
High |
0 |
|
Low |
0 |
|
Best Buy Price |
16542 |
|
Best Buy Quantity |
1 |
|
Best Sell Price |
16588 |
|
Best Sell Quantity |
2 |
|
Open Price |
0 |
|
Close Price |
16708 |
|
Open Interest |
44 |
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