Gold remained pretty volatile yesterday on the stunning decision by Greece to call a referendum on its bailout, which reinserted uncertainties and wrecked havoc in the financial markets ahead of the G-20 meet.
The immediate delivery future made a low of as much as $1681, but then recovered smartly to settle 0.78% lowers than the prior closing at $1700.80. However, at MCX the rupee depreciation provided lower side support to make it settle at 0.67% higher.
World equities fell hard a second day on renewed concern over whether Greece would derail European efforts to tame the region’s crisis. The US and European equities settled down by losing anywhere between 2-5%
The dollar index continued its rally against the majors on Japan’s intervention and the heightened concern regarding Greece bailout plan, and settled higher by gaining 1.49%
Holdings in the SPDR Gold Trust, the world's largest gold-backed exchange-traded remained unchanged at 1243.55 tons as on 31st Oct
Courtesy: Karvy Commtrade Ltd.
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