Gold futures down, fall seen as temporary MUMBAI: Gold futures were down on the Multi Commodity Exchange of India Ltd (MCX) on Monday tracking foreign markets but analysts said the metal could rise later on safe-haven buying.
"It is only a marginal set back that gold has taken," said Debjyoti Chatterjee, associate vice president at MAPE Admisi Commodity Research. "The trend is very much positive." Foreign gold that guides the local market fell as a U.S. bailout package expected to be approved, was seen reducing the uncertainty over the financial system and supported the dollar. Gold generally has an inverse relation with the dollar as the two compete for funds. The October contract on the MCX was seen trading between 13,000 rupees per 10 grams and 13,300 rupees, Chatterjee said. October gold had an open interest of 6,307 lots, higher than 6,236 on Saturday. Volume on the previous session was at 2.39 kg. -- Visit site at – http://investorline.co.in/ Learning Center- http://learning.investorline.co.in/ Mutual funds - http://mutualfunds.investorline.co.in/ Life Insurance - http://insurance.investorline.co.in/ Investor Forums- http://forums.investorline.co.in/ Iwebs Open Source Web Publishing Platform - http://webs.investorline.co.in/iwebs/ --~--~---------~--~----~------------~-------~--~----~ Get latest market updates & search internet right from your browser-download our toolbar here- http://investorline.ourtoolbar.com/ Visit our site at – http://investorline.co.in/ Newsroom: http://newsroom.investorline.co.in/ Learning Center- http://learning.investorline.co.in/ Mutual funds - http://mutualfunds.investorline.co.in/ Life Insurance - http://insurance.investorline.co.in/ Investor Journal - http://research.investorline.co.in/ Newscatcher- http://catcher.investorline.co.in/ Interested in Financial Planning-Let us Contact you- http://spreadsheets.google.com/viewform?key=pb_z4f1_zGMg4iBBFT3-SWQ&email=true If you like the site then promote it here- https://www.freetellafriend.com/tell/?url=http://investorline.co.in/blogs/news Create your own free blog on- http://investorline.co.in/blogger Visit this group at http://groups.google.com/group/india-investor -~----------~----~----~----~------~----~------~--~---
