India Bullion iPhone Application
  Quick Links
Currency Futures Trading

MCX Strategy

Precious Metals Trading


Forex Brokers


Precious Metals Trading

Economic Data

Commodity Futures Trading


Live Forex Charts


World Gold Prices


Forex COMEX India

Contact Us


Bullion Trading Bullion Converter

$ Price :


Rupee :


Price in RS :

  More Links
Forex NCDEX India


Live Gold Prices

Price Quotes

Gold Bullion Trading


Forex MCX India


Gold Commodities


Forex Currency Trading


Indian Currency


Forex MCX India

Link Exchange

RTRS: Gold rides on falling stocks, extends 4 pct rise
* Gold up nearly 1 percent on falling share prices * Nikkei hit 5-year low, oil bounces after sharp drop (Updates prices) By Lewa Pardomuan SINGAPORE, Oct 7 (Reuters) - Gold gained nearly 1 percent
on Tuesday as investors sought havens after stock markets
dropped on growing fears for the global economy and a U.S.
bailout package to rescue distressed banks failed to calm
Japan's Nikkei stock average .N225 tumbled to a five-year
low shortly after the start of trade, sliding below 10,000 for
the first time since December 2003 on worries about the state
of the global economy and a surging yen. [ID:nT26103] Gold was trading at $863.25 an ounce, up $5.80 an
ounce New York's notional close on Monday, when it gained
almost 4 percent on losses in equities markets -- defying a
rallying U.S. dollar and weaker oil prices. Weaker shares lift bullion's appeal as an alternative
investment but dealers said declines in other commodities could
potentially weigh on gold as well. The Reuters-Jefferies CRB
Index .CRB, a global commodities benchmark, fell 5 percent to
a 13-month low. "I suspect that gold would receive support from safe haven
buying in the near term and that might help it, but to be
honest the outlook is extremely uncertain," said David Moore,
analyst at Commonwealth Bank of Australia in Sydney. "Our forecasts are for gold going back down into the $700s
in 2009. We quote the gold price at around $740, just above
$740 ounce as at the end of June 2009," he said. Gold struck record at $1,030.80 in March but has since
traded in a wide range. It tumbled to an 11-month low $736 in
early September before bouncing to its highest in two months at
$920 late last month. Last week, bullion dropped to a two week low around $818 an
ounce after the U.S. House of Representatives voted to pass a
$700 billion package to bailout the U.S. financial system. Governments around the world scrambled for new measures to
contain the fast-spreading credit crisis as stock, bond and
commodity markets bet on deepening uncertainty and a sharp
downturn. [ID:nL6259237] "I don't know if the crisis will spread to Asia but I guess
safe haven buying is the most appropriate excuse to describe
gains in gold prices. But there's no such thing as people
rushing to buy gold bars or coins," said a physical dealer in
Singapore. "I think $820 will offer support for gold, while $900 will
be the upside," said the dealer, referring to levels last seen
in September. Premiums for gold bars were unchanged at $1 to the spot
London prices in Singapore. . In other markets, the yen edged up against the dollar and
the euro but slipped against higher-yielding currencies as
investors anticipated a coordinated global response to the
credit crisis. [USD/] Oil bounced above $88 a barrel on Tuesday, having fallen to
an eight-month low the previous day on fears the global economy
would slip into recession. [O/R] Platinum was trading at $957.00 an ounce, down $4.00
from New York's notional close on a technical rebound, having
fallen to its weakest since November 2005 at $920 on Monday on
fears of falling demand for autocatalysts. New York gold futures GCZ8 fell $0.6 an ounce to $865.6
an ounce on the COMEX division of the New York Mercantile
Precious metals prices at 0206 GMT
Metal Last Change Pct chg YTD pct chg
Spot Gold 863.25 5.80 +0.68 3.67
Spot Silver 11.13 0.12 +1.09 -24.64
Spot Platinum 957.50 -4.00 -0.42 -37.01
Spot Palladium 195.00 1.00 +0.52 -47.01
TOCOM Gold 2812.00 68.00 +2.48 -8.10
TOCOM Platinum 3178.00 33.00 +1.05 -40.48
TOCOM Silver 365.40 2.00 +0.55 -32.46
TOCOM Palladium 665.00 6.00 +0.91 -50.78
Euro/Dollar 1.3494
Dollar/Yen 101.95
TOCOM prices in yen per gram, except TOCOM silver which is
priced in yen per 10 grams. Spot prices in $ per ounce.
(Editing by Kim Coghill)