COMMODITY NEWS & tips
WEEKLY GOLD ANALYSIS
MCX Gold futures December contract closed at Rs. 27848, up Rs. 278 on Friday. Global prices are at $1739, down $9 per ounce.
In economic news on Friday, Spain's third-quarter unemployment rose to 21.5%, despite a strong summer tourist season. The jobless rate, the highest in the developed world, rose from 20.89% in the second quarter as 146,800 jobs disappeared. Keeping all these weak global data in mind gold can be said to make the new highs in upcoming session. Gold witnessed profit selling on Friday, sliding from its five-week highs as global markets came off their highs.
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