Gold Updates: Rupee Plunged, Silver trading Up

Weakening of rupee against dollar has reached to a record low of 57.30. For the first time rupee reached at 57.30 level against dollar. Rupee has to fall on the back of strong demand for the American currency from oil importers, increased capital outflows and concerns over slowdown in global economic growth.

This fall in rupee has supported Gold prices. In MCX , Gold prices have reached to 29943 level with a gain of 0.34%.

Experts say that above 29950, gold may go up to 30000-31150 level. So a strong Intraday buy is suggested for Day traders.


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