Religare Broking Podcast

Markets witnessed profit taking and shed over half a percent, tracking mixed cues

Gold at COMEX is trading firm and remains comfortably above the 1,950 an ounce support. Fresh cues are expected from the Jolt’s Opening as well as the Chicago PMI data.

Markets managed to end higher in a range bound session, in continuation to the prevailing trend.

Gold at COMEX is trading firm and has broken the 1,950 an ounce resistance, on expectations of CB consumer sentiment data to be below the previous number.

Markets started the week on a firm note and gained nearly half a percent, in continuation to Friday’s surge.

Gold held below $1,950 an ounce on Monday, remaining close to its lowest level in two months, weighed down by hawkish US Federal Reserve bets and news that a tentative US debt ceiling deal was reached over the weekend.

Markets ended a 2-week long consolidation phase and gained over one and a half percent.

Markets edged higher on Friday and gained nearly a percent, making a strong start for the June expiry.

Gold prices have recouped  some Losses since morning as shorts covered, while monitoring the US Debt Ceiling related news. 

Markets traded volatile and settled marginally lower, taking a breather after the recent up move.