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Yellow Metal Loses Sheen again

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Yellow Metal Loses Sheen again

March 30
12:52 2015

gold1New Delhi, Monday, March 30 – The increase and decrease trend has incessantly been witnessed by the buyers who were up to purchase gold on different occasions. In general, the yellow metal stayed in a range which was easily afforded by the masses.

Rumors about the rise in peak wedding season did the rounds but weren’t true.  The consumers who thought shelling hefty sums to get gold would be rewarding in the long run took a pause to rethink over their decision.

Demand for gold coins, necklaces, ornaments and bars that were believed to be an optimal solution to get rid of various problems during tough times fell given that people showed unenthusiastic approach to pay money for to the metal.  It lately skidded by 0.56 to INR 26,420 per ten gms in futures trade for the reason that partakers sold their stances post gold rates toppled in international markets. The way its cost per 10 gm goes up to some extent and falls up all of a sudden gives birth to the doubt that it wouldn’t give desired profit if sold unexpectedly to fulfill numerous purposes.

“The precious metal moves to and fro perhaps due to muted demand. Though, situation might change next month on the auspicious day of Akshaya Tritiya – a time that’s assumed best to buy gold and silver’’, said a market expert who foresees massive augmentation in the prices of metals sooner or later. “Upcoming marriage period possibly will spur the hike in rate of both yellow and white metal”, he added further.

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