Blog for Stock tips, Equity tips, Commodity tips, Forex tips: Sharetipsinfo.com

Want to beat the stock market volatility? Just keep on reading this exclusive blog by Sharetipsinfo which will cover topics related to stock market, share trading, Indian stock market, commodity trading, equity trading, future and options trading, options trading, nse, bse, mcx, forex and stock tips. Indian stock market traders can get share tips covering cash tips, future tips, commodity tips, nifty tips and option trading tips and forex international traders can get forex signals covering currency signals, shares signals, indices signals and commodity signals.

  UseFul Links:: Stock Market Tips Home | Services | Free Stock / Commodity Trial | Contact Us

Nifty Closing Note

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

www.ShareTipsInfo.com

Benchmark indices ended higher in the volatile session on July 7 with Nifty above 15,850.

At close, the Sensex was up 193.58 points or 0.37% at 53054.76, and the Nifty was up 61.40 points or 0.39% at 15879.70. About 1737 shares have advanced, 1372 shares declined, and 136 shares are unchanged.

Tata Steel, JSW Steel, Bajaj Finserv, Hindalco, and UPL were among the top gainers on the Nifty. Top losers were Titan Company, ONGC, Maruti Suzuki, SBI Life Insurance, and Shree Cements.

On the sectoral front, Realty and Metal indices rose 2 percent each, while selling was seen in the auto and oil & gas stocks. BSE midcap and smallcap indices ended marginally in the green.

--------------------------------------------------------------------------------------------


Topic :- Time:3.20 PM

Just In:

Jyotiraditya Scindia, Narayan Rane, Pashupati Paras, Pritam Munde are likely to be part of the new Modi team as 43 leaders are expected to take oath at 6 PM today.

--------------------------------------------------------------------------------------------

Topic :- Time:3.00 PM

Nifty spot if closes above 15840 levels then expects some further up move in the market in coming sessions however this consolidation phase has started bothering day traders now. Let's expect it to end soon and be ready to witness another break out in the market soon.

--------------------------------------------------------------------------------------------

Topic :- Time:2.50 PM

Just In:

Health Minister Harsh Vardhan resigns from Union Cabinet.

--------------------------------------------------------------------------------------------

Topic :- Time:2.30 PM

GOLD Trading View:

GOLD is trading at 47857. If it manages to trade and sustain above 47900 levels then some upmove can be seen in it and if it breaks and trades below 47800 levels then some decline can follow in GOLD.

--------------------------------------------------------------------------------------------

Topic :- Time:2.00 PM

Nifty is showing some momentum however movement is still very slow. Nifty spot if manages to trade and sustain above 15860 levels then more move can be seen in the market and if it breaks and trade below 15820 level then some decline can follow in the market.

--------------------------------------------------------------------------------------------

Topic :- Time:1.30 PM

COPPER Trading View:

COPPER is trading at 732.30. If it manages to trade and sustain above 733 level then expect some upmove and if it breaks and trade below 730.80 level then some decline can follow in it.

--------------------------------------------------------------------------------------------


Topic :- Time:1.10 PM

Nifty is highly rangebound. Nifty spot if manages to trade and sustain above 15840 then some up move can be seen and if it breaks and trade below 15800 levels then some decline can follow in the market.

--------------------------------------------------------------------------------------------

Topic :- Time:12.00 PM


Nifty is rangebound. Traders are advised to trade in small quantities and should wait for clear movement.

--------------------------------------------------------------------------------------------

Topic :- Time:11.30 AM

News Wrap Up:

1. Sensex, Nifty volatile; realty stocks up, IT stocks slide

2. Legendary actor Dilip Kumar passes away at 98

3. Former WhatsApp business head Neeraj Arora may rejoin Paytm Board

4. Finance ministry begins an independent survey on faceless scheme

5. Nasper-backed PayU in talks to acquire BillDesk for up to $4 billion

6. Fuel price hike: Petrol price crosses Rs 100/litre mark in Delhi

7. Covid-19 in numbers Cases 30,663,665 | Deaths 404,211 | Vaccination 361,323,548

8. Titan Company dips 3% after June quarter business update

9. Paper stocks on a roll; Star Paper, Seshasayee Paper rally up to 15%

10. NSE clarifies on Nifty Futures freak trade, seeks explanation from broker

--------------------------------------------------------------------------------------------

Topic :- Time:11.00 AM


After flat opening nifty is still trading flat. Nifty spot if manages to trade and sustain above 15860 level then expect some upmove and if it breaks and trade below 15800 level then some decline can be seen in the market.

--------------------------------------------------------------------------------------------

Topic :- Nifty Opening Note

Indian Stock Market Trading View For Today:

Nifty to turn volatile as the day progresses. Global cues to be eyed.

Nifty spot if manages to trade and sustain above 15840 levels then expect some upmove and if it breaks and trade below 15800 levels then some decline can be seen in the market. Please note this is just an opening view and should not be considered as the view for the whole day.

--------------------------------------------------------------------------------------------

Get 90%  Share Marke tips With High Accuracy



List of New Upcoming IPOs in July 2021

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

www.ShareTipsInfo.com

List of New Upcoming IPOs in July 2021

2021 has certainly been a year of IPOs. Every month we are witnessing some action-packed IPOs from leading companies. IPOs are amongst the most lucrative options for investors because they allow them to acquire the shares of a company at their true price.

IPO or Initial Public Offering is the process by which a company offers its shares for the first time to the public for raising capital. The raised capital can be used by the company for business expansion or other corporate purposes including debt settlement. The shares bought by the investors give them a proportion of ownership in the company.

For an IPO, a company mandatorily needs to have an approval from SEBI. The investment banker of the company files a Draft Red Herring Prospectus (DRHP) with SEBI which includes all the fundamentals about the company. The DRHP also has all the data with respect to the IPO. Once the DRHP is approved by the SEBI, the company can get a go ahead from the exchanges. Once all of these is in place, the company can roll out its IPO.

Today, we will discuss about some of the upcoming IPOs in July 2021. These includes the companies whose DRHP has been approved by the SEBI.

Clear Science Technology

The IPO for Clean Science Technology aims to raise around 1400 Crore from the public. The IPO will be open for bidding on 7th July. Clean Science Technology is a renowned chemical manufacturer incorporated in the year 2003 and specializes in FMCG chemicals, pharma chemicals and performance chemicals. The IPO will be priced in between 880-900 with a lot size of 16 shares.

GR Infraprojects

The second IPO for the month of July 2021 is from the road engineering and construction company – GR Infraprojects. The IPO plans to raise 963.28 Crores from the public with a price band of 828 – 837 and an IPO lot size of 17 shares. The issue will be open for bidding on 7th July and close on 9th July. The shares of the company will be listed on both BSE and NSE.

Glenmark Life Sciences

The company is a subsidiary of the pharma giant Glenmark Pharmaceuticals Ltd. Glenmark got an approval from SEBI for rolling out their first public issue. The issue is expected to include an Offer for Sale (OFS) of 7.31 million shares from the parent company (Glenmark Pharmaceuticals Ltd.) and a fresh issue of shares worth 1160 Crores.

Utkarsh Small Finance Bank

Another IPO expected in July 2021 is from Utkarsh Small Finance Bank. The public issue plans to raise 1350 Crores from the public. The issue includes an OFS (Offer for Sale) of around 600 Crores and a fresh issue of 750 Crores. The company plans to utilize the proceeds for augmentation of the capital base of Tier-I for meeting its future capital requirements.

Conclusion

These are some of the IPOs which are expected in July 2021. It must be noted that it is important to understand the fundamentals of a company before planning to buy its shares in an IPO. An investment advisor can help you in choosing the best IPO stocks by on the basis of fundamental research.

Happy Investing!

Technical View: Nifty forms bullish candle, experts say create long side bets above 15,900

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

www.ShareTipsInfo.com

The Bank Nifty outperformed the Nifty to settle with gains of 402.10 points at 35,212.

The Nifty rebounded and traded higher throughout the session to close more than half a percent higher on July 5, driven by banking & financials, metals, select auto, and FMCG stocks.

The index formed a bullish candle on the daily chart as the closing was higher than the opening level after forming a Hammer pattern on July 2. Experts feel 15,900 will be the crucial level to watch out for.

Though trading bias looks bullish, traders should wait for a close above 15,900 before creating long side bets, said Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory at Chartviewindia.in.

The Nifty50 opened higher at 15,793.40 and hit the day’s high of 15,845.95 in the final hours of trade. The index climbed 112.20 points to close at 15,834.40.

As long as the Nifty sustains above the day’s minor gap area of 15,762–15,738, it can bounce to the higher end of the range by retesting lifetime highs of around 15,915, Mohammad said.

For a sustainable up move, the index needs a close above 15,900, which will open up a higher target of 16,300, he said.

In the next session, intraday traders can expect a minor hurdle at 15,846 on the upside, he said. Intraday support is placed at 15,738, and if the Nifty closes below it, then it can again make the index vulnerable to a bear attack, with an initial target close to 15,600.

Volatility continues to fall, hovering near its lowest level in 18 months. India VIX fell marginally by 0.19 percent from 12.09 to 12.06 levels.

On the options front, maximum Put open interest was seen at 15,500 followed by 15,000 strikes, while maximum Call open interest was seen at 16,000 followed by 16,500 strikes. Call writing was seen at 16,200 then 16,300 strikes, while Put writing was seen at 15,600 then 15,800 strikes. Option data indicated that the Nifty50 could see an immediate trading range of 15,600 to 16,000 in the coming sessions.

The Bank Nifty opened the gap up above 35,000 and moved in the position direction throughout the day towards 35,234. It outperformed the Nifty to settle with gains of 402.10 points at 35,212. It formed a bullish candle on a daily scale and negated its lower highs-lower lows of the last four sessions." The Bank Nifty has to hold above 35,000 to move up towards 35,500 and 35,750, while on the downside support is seen at 34,750 and 34,500," said Chandan Taparia, Vice President | Analyst-Derivatives, Motilal Oswal Financial Services.

On the front of the stock, a bullish setup was seen in Muthoot Finance, Tata Power, IRCTC, Godrej Consumer Products, DLF, Pidilite Industries, Hindalco, NALCO, SBI, HPCL, Federal Bank, Manappuram Finance, L&T, Bajaj Finance, ICICI Bank, Axis Bank, and Divis Labs. Weakness was seen in NMDC, Adani Enterprises, Wipro, Bata India, Britannia, and Lupin, he said.
Read Also:- Get Share Market Tips With High Accuracy

India's manufacturing sector contracts in June; first time in 11 months: Survey

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

www.ShareTipsInfo.com

The seasonally-adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) declined to 48.1 in June from 50.8 in May.

The index fell below the critical 50.0 mark for the first time since July 2020. In PMI parlance, a print above 50 means expansion while a score below 50 denotes contraction.

The index fell below the critical 50.0 mark for the first time since July 2020. In PMI parlance, a print above 50 means expansion while a score below 50 denotes contraction.

India's manufacturing sector activities contracted for the first time in 11 months in June as rise in coronavirus cases and strict containment measures adversely impacted demand as well as resulted in job losses, a monthly survey said on Thursday.

The seasonally-adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) declined to 48.1 in June from 50.8 in May.

The index fell below the critical 50.0 mark for the first time since July 2020. In PMI parlance, a print above 50 means expansion while a score below 50 denotes contraction.

The latest reading highlighted renewed contractions in factory orders, production, exports and quantities of purchases. Moreover, with business optimism fading over the month, job shedding continued, the survey said.

COVID-19 restrictions also curtailed international demand for Indian goods and new export orders decreased for the first time in ten months.

"The intensification of the COVID-19 crisis in India had a detrimental impact on the manufacturing economy. Growth of new orders, production, exports and input purchasing was interrupted in June as containment measures aimed at bringing the pandemic under control restrained demand," Pollyanna De Lima, Economics Associate Director at IHS Markit, said.

Lima, however, noted that in all cases, rates of contraction were softer than during the first lockdown.

Business confidence was dampened in June by uncertainty over when the pandemic can be brought under control. Companies were at their least optimistic for almost a year. "As a result of subdued optimism, jobs were shed again in June," Lima said.

On the price front, input costs increased further in June, with firms reporting higher prices for chemicals, electronic components, energy, metals, and plastics.

Read Also:- Get Share Market Tips At Sharetipsinfo

Additional cost burdens were again transferred on to clients, with goods producers hiking their fees for the tenth straight month, the survey said.

"Out of the three broad areas of the manufacturing sector monitored by the survey, capital goods was the worst affected area in June. The output here declined at a steep rate due to a sharp fall in sales.

"The sector also saw the fastest contraction in buying levels and was the only to post job shedding," Lima said.

Article Source:- Moneycontrol

Dollar off to firm start as US price data fail to quell inflation worries

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

www.ShareTipsInfo.com

The euro was little changed at $1.19385, struggling to recover the $1.20 level while the dollar consolidated at 110.80 yen, not far from June 23's 5-month high of 110.105.

Representative image: AP

The dollar held firm on June 28 after slightly softer-than-expected US inflation did little to chip away investors' conviction that the Federal Reserve could tighten monetary policy if consumer price pressures continue to intensify.

The dollar's index against six other major currencies was steady at 91.793, having recovered from Friday's low of 91.524 hit in the wake of the inflation readings.

The euro was little changed at $1.19385, struggling to recover the $1.20 level while the dollar consolidated at 110.80 yen, not far from Wednesday's 15-month high of 110.105.

The U.S. personal consumption expenditures (PCE) price index, excluding the volatile food and energy components, increased 0.5% after advancing 0.7% in April.

In the 12 months through May, the so-called core PCE price index, the Fed's favorite gauge of inflation, shot up 3.4%, the largest gain since April 1992.

Although inflation is expected to slow towards the year-end, signs of a tight labor market kept many investors fretting over wage-driven price pressures.

Among a raft of economic indicators due this week, Friday's payroll data is a key focus, with economists expecting an increase of 675,000 nonfarm payrolls.

"Depending on the outcome of the payroll's data, the market could start pricing in more chances of a rate hike next year," said Yukio Ishizuki, senior currency strategist at Daiwa Securities.

December 2022 Fed funds rate futures are almost fully pricing in a 0.25 percentage point rate hike by the end of next year.

Read Also:- Get 90% Share Market Tips With High Accuracy

The general mood around an ongoing economic recovery remained solid, as Republican Senate negotiators on an infrastructure deal were optimistic about a $1.2 trillion bipartisan bill after President Joe Biden withdrew his threat to veto the measure unless a separate Democratic spending plan also passes Congress.

Cryptocurrencies bounced back from their weekend lows but ended the week lower.

Bitcoin traded at $32,820, having declined 3.1% last week. Ether fetched $1,831, not far from Tuesday's three-month low of $1,700, and registering its third straight week of loss.

Britain's financial regulator said last week that Binance, one of the world's largest cryptocurrency exchanges, cannot conduct any regulated activity and issued a warning to consumers about the platform.

Article Source:- Moneycontrol

Indian economy may grow 8.4-10.1% in current financial year: NCAER

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

www.ShareTipsInfo.com

Releasing its quarterly review of the economy, the National Council of Applied Economic Research (NCAER) has pitched for strong financial support to push economic growth.


Economic think-tank NCAER expects the Indian economy to grow 8.4-10.1 percent for the current financial year as against a contraction of 7.3 percent in the last fiscal.

Releasing its quarterly review of the economy, the National Council of Applied Economic Research (NCAER) has pitched for strong financial support to push economic growth.

"We estimate that gross domestic product (GDP) will grow 11.5 percent in Q1 (first quarter) and 8.4-10.1 percent for the whole year 2021–22.

"However, these high growth rates are also a reflection of strong base effect since 2021-22:Q1 follows the very steep decline in 2020-21:Q1. At the end of 2021-22 GDP, on constant prices, would still be about the same as Rs 146 trillion (Rs 146 lakh crore) as in 2019-20," the NCAER said in a statement.

The economic growth, according to NCAER's estimates, had contracted by 7.3 percent during 2020-21.

The report further said the second COVID-19 wave, four times greater in ferocity as compared to the first wave in terms of a number of cases and deaths, has further disrupted the growth process, which had already been severely damaged by the first wave.

High-frequency indicators show a sharp decline in economic activity during April and May 2021, the peak of the second COVID-19 wave, though there are some indicators of recovery in June as unlocking proceeds, it added.

Read Also :-Best Share Market Tips For Beginners

To restore the growth process after this situation for two consecutive years, the process now needs a strong positive push, NCAER said adding that fortunately, export growth is projected to remain buoyant with recovery in the global economy.

This, combined with a strong expansionary macroeconomic policy thrust, could help revive normal growth." The required fiscal policy stance in this context is public expenditure push," it said.

As per the think-tank, the fiscal deficit may remain high for a second consecutive year with revenues affected by the depressed level of economic activity.
Article Source - Moneycontrol

Eurozone economy booms at fastest rate in 15 years

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

www.ShareTipsInfo.com

Economic data group IHS Markit said the "impressive progress" of vaccinations was jumpstarting the single-currency area, fuelled by eased restrictions that are at their lowest since September.


Business activity in the eurozone jumped at its fastest rate in 15 years this month, a closely watched survey said on Wednesday, as a reopened economy unleashed pent-up demand.

Economic data group IHS Markit said the "impressive progress" of vaccinations was jumpstarting the single-currency area, fuelled by eased restrictions that are at their lowest since September.

This "brightening prospect of life increasingly returning to normal has...  pushed confidence to an all-time high, fuelled greater spending and encouraged hiring," said Chris Williamson, Chief Economist at IHS Markit.

Accordingly, the firm's PMI index -- which indicates trends in the manufacturing and service sectors -- said activity leaped from 57.1 in May to a booming 59.2 in June, far above the 50-point level that indicates growth.

The data set the scene for major growth in the second and third quarters, closing the chapter on a double-dip recession that came with the lockdowns of last autumn and winter, the firm said.

Read Also:- Get Share Market Tips With High Accuracy

The explosive growth was creating its own spillover effects, with supply chains under pressure and prices reflecting the sharp increase in demand, IHS Markit said.

"The strength of the upturn – both within Europe and globally – means firms are struggling to meet demand, suffering shortages of both raw materials and staff," Williamson said.

"Under these conditions, firms' pricing power will continue to build, inevitably putting further upward pressure on inflation in the coming months."

Article Source:- Moneycontrol



Working women 2X more likely to be worried about jobs compared to male counterparts, says LinkedIn

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

www.ShareTipsInfo.com

According to the recent Labour Market Update, remote job postings that increased by 35x across 2020, grew further by almost 3x year-on-year as of May 2021.


Working women are 2x more likely to be worried about availability of jobs compared to working men, says the LinkedIn Workforce Confidence Index.

The study showed that working women are also 4x less confident compared to working men, with the second wave of COVID-19 raging on.

Based on the survey responses of 1,891 professionals from May 8 to June 4, findings revealed that due to COVID-19 second wave, Indian professionals — particularly Gen Z and working women — increasingly vulnerable to the economic uncertainty in today’s evolving job market.

The latest edition of the LinkedIn Workforce Confidence Index shows that India’s overall workforce confidence has declined after peaking in early March, with a composite score of +54 today (down 4 points from +58 in March).

This dip in confidence is reflected strongly across professionals from creative industries such as Entertainment, Design, and Media & Communications, who expressed being uncertain about the future of their employers. But as several parts of the economy gradually reopen, professionals from Software & IT and Hardware & Networking are growing increasingly confident about the future of their organizations.


Ashutosh Gupta, India Country Manager, LinkedIn said, "As India slowly begins to come out of the second wave of Covid-19 cases, we see the year-over-year hiring rate recover from a low of 10 percent in April to 35 percent at the end of May. Despite this modest revival, confidence levels of working women and young professionals are amongst the lowest in the workforce today."

But Gupta said that remote jobs can be the ray of hope, to provide the much-needed flexibility and growth in opportunities to help them bounce back into the workforce.

Women are worst affected

The report said that twice as many working women worried about availability of jobs, time for job-seeking compared to working men.

The plight of India’s working women has worsened after the second COVID-19 wave, as the individual confidence index (ICI) scores of female professionals fell from +57 in March to +49 in early June ー a 4x decline compared to working men (+58 in March to +56 in June).

ndia’s evident ‘shecession’, findings show that India’s working women are ~2x more likely to be worried about the availability of jobs, their professional network, and time devoted to job seeking, than working men today.

This uneven impact has also bruised the financial stability of working women as 1 in 4 (23 percent) female professionals are concerned about growing expenses or debt, in contrast with just 1 in 10 (13 percent) working men.

Gen Z faces troubles

The pandemic’s recent peak in India has amplified the importance of work experience and professional connections, as young Indians were found twice (2.5x) as worried as their older cohorts, about the impact of COVID-19 on their careers.

Nearly 30 percent of Gen Z professionals and 26 percent of millennials are troubled due to lack of jobs, in comparison to 18 percent of Baby Boomers.

The uncertainty widens when it comes to finances as 1 in 4 Gen Z (23 percent) and millennials (24 percent) report being more worried about their debt or expenses, when compared to just half as many Boomers (13 percent) in India today.

Read Also:- Advantages of investing in the Stock Market

As per LinkedIn Labour Market Update, LinkedIn platform data suggests that the average time for fresh graduates to find a new job has also increased by 43 percent (from 2 to 2.8 months) in 2020 compared to pre COVID-19 times in 2019.

But while the conversion time has increased, so have remote opportunities, as LinkedIn platform data further suggests that the proportion of entry level jobs labelled as ‘remote’ posted between Jan-March 2020 have increased by 9x between 2020 and 2021.

There are twice as many working women worried about availability of jobs, time for job-seeking compared to working men.

Flexibility is a priority

As India continues to navigate the ongoing health and economic crisis, ’self-care’ appears to have become a greater priority for job seekers in the current environment. While 1 in 2 job-seekers value employee benefits (55 percent) and salary (53 percent) more post COVID-19, an equal number of job-seekers are found prioritizing work-life balance (48 percent) and location flexibility (50 percent) when looking for a job today.This growing demand for flexibility comes at a time when remote opportunities continue to grow. According to the recent Labour Market Update, remote job postings that increased by 35x across 2020, grew further by almost 3x year-on-year as of May 2021.

Aspirants also seek a sense of belonging and long-term growth within their new organizations as 2 in 5 job seekers prioritize workplace culture (43 per cent), internal movement & promotions (44 per cent), and a visible commitment to diversity & inclusion (42 per cent) from their potential employers.

Article Source:- Moneycontrol


Gold slips over 2%, palladium sheds 10% as post-Fed slide accelerates

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

www.ShareTipsInfo.com

Palladium led the sell-off, tumbling 10 percent to $2,517.18, while platinum fell 6.6 percent to $1,048.44.

Gold (Image: Pixabay)


Gold shed more than 2 percent on June 17, precipitating a sell-off across precious metals with palladium set for its worst day in over a year, as the dollar gained ground after the US Federal Reserve struck a hawkish tone on monetary strategy.

Spot gold fell 2% to $1,776.10 per ounce by 1:44 pm EDT (1744 GMT), having earlier touched its lowest since May 3 at $1,766.29.

U.S. gold futures settled down 4.7% at $1,774.80.

A majority of 11 Fed officials on Wednesday projected at least two quarter-point rates rise for 2023, although officials pledged to keep policy supportive for now to encourage a jobs recovery.

The announcement propelled the dollar to an over two-month high, eroding bullion's allure for those holding other currencies, and drove a jump in U.S. Treasury yields, raising the opportunity cost of holding non-yielding gold.

"The Fed's dot plot is providing a clear change in tone, ultimately suggesting that although the Fed continues to reiterate that inflation is transitory, their formal assessment of risks to the economy is decisively more hawkish," TD Securities commodity strategist Daniel Ghali said.

Read Also:-  Get 90% Stock Market Tips With High Accuracy

Weakening physical demand and slowing speculative flows into gold, both of which began before the Fed meeting, could also help to drive a further pullback, Ghali added.

Adding to gold's headwinds, the U.S. central bank said it would consider whether it should taper its asset purchases at every subsequent policy meeting.

Jeffrey Christian, the managing partner at CPM Group, also said the scale of gold's sell-off was accentuated by bearish technicals, and that the steeper decline in gold futures "reflects the fact that you have more trading volume and more technically oriented investors in the futures market than in spot."

Palladium led the sell-off, tumbling 10% to $2,517.18, while platinum fell 6.6% to $1,048.44.Palladium could be seeing a correction in a rally that some view as overdone, Christian added.

Silver slipped 4.3% to $25.81 per ounce.

Article Source:- Moneycontrol

  UseFul Links:: Stock Market Tips Home | Services | Free Stock / Commodity Trial | Contact Us