Gold demand in the ornaments sector accounted with a 80 % world consumption in 2001 is slipped only to 51 percent in 2010. The reason for this decline is demand for gold in other segments such as bar and coin has increased. Due to this gold prices encountered hike in Gold prices. For MCX Gold the trend for bar and coin investment accounted for 9.6 percent in 2001 for total gold demand rose to 29 percent in 2010.
Gold Price Trend for 08 Sept:
Currently Gold is in HOLD LONG position. Gold market for short term is in strong up trend so hold with stop at 27654. MCX Gold is now trading is approaching overbought level BUY is advised.
Latest: MCX Gold silver Tips for 08 sept
