Gold Tips

MCX Gold December have surged in the in the early hours moves today, going up in tune with the ferocious gains in the COMEX Gold December as a signal of strong buying lifted the commodity to its three week highs. The COMEX Gold December added moving gains last night even as US stocks drop as traders eyed an conservatory of ultra loose US economic policy after President Barack Obama's re-election. COMEX Gold December are trading around its three week highs at $1737.50, up $11.40 per ounce on the day.

The US equities eased the past day in the middle of doubts about scary economic woes. The traders are now worrying about the US fiscal cliff, automatic tax hike and spending cuts amounting to $600 billion due to take effect early next year that could send the US economy back to downturn. This is boosting shareholder craving for safe-haven assets like gold.

The Euro zone slipped again the past day , continuously contrary complexity on rising moves among a string of weak economic data that continues to keep the Euro zone area in a attach of slowing growth and persistent debit reservations. The European Central Bank refrained from further motivation measures the past day and said it cannot do much more to help Greece and gave Spain none of the guarantee it wants that ECB bond buying will lower its borrowing costs.

Last Week:-

Gold Prices started the new trading week on an up move. Comex Gold future Prices rose reasonably higher the past day on some bargain hunting buying interest after Friday’s big sell off meeting, but rises remain limited by a stronger US money index that hit a fresh two-month high.