India gold futures likely to recover from their lowest level in nearly a week

India gold futures are likely to recover from their lowest level in nearly a week on Tuesday morning tracking gains in overseas markets, analysts said.

* The most-active gold for February delivery on the Multi Commodity Exchange last ended 0.7 percent lower at 27,578 rupees per 10 grams, after hitting a low of 27,551 rupees, a level last seen on January 3.

* Gold prices in the global market edged higher on Tuesday after two straight sessions of losses.

* A stronger rupee could limit the upside in prices. The rupee plays an important role in determining the landed cost of the yellow metal, which is quoted in dollars. – Reuters

Tags: Gold analysis, Gold future prices, Gold futures, Gold investment, Gold news, Gold price, gold price forecast, Gold prices, India gold, India gold price, price of gold, Spot gold, Spot gold price

Posted by admin on Jan 10 2012. Filed under Gold price. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry