Gold prices rose after hitting a 7-week low US dollar retreats

Price of Gold advanced on Wednesday 4th October 2017, after hitting a 7-week low in the last session, sustained as the USD pulled back from 45-days high against a basket of currencies. At the morning hours, spot gold had risen 0.3% to USD 1,275.34 per ounce and touched its lowest since middle August at USD 1,267.76 on Tuesday.

As per economic point of view, the price of Gold has steadied in last one day, with a hindering US dollar contributing to the move. Further, Long liquidation throughout last fourteen days has put gold on a more sound footing. However, the dollar on Wednesday shed gains against a basket of main currencies over assumption that Donald Trump’s choice for the next US Fed Reserve chair may not be so aggressive against previously forethought.

Among other precious metals, silver rose 0.8% to USD 16.72 an ounce. Palladium jumped 0.7% to USD 921 an ounce while Platinum was 0.5% higher at USD 912 an ounce.

Meantime, Indian rupee made stronger against the USD ahead of the RBI bi-monthly policy outcome due late hours on Wednesday. The rupee opened at 65.34 per USD and was trading at 65.35 v/s dollar, up 0.24% from its last day’s close of 65.50. So forth this year, the domestic currency has gained 4%, while FPIs have bought USD 5.51 billion in equity market and USD 20.05 billion in debt market.

Best Stock Tips with Top Investment Advisory- Trading Suggestion for Tomorrow ( 3 Oct 2017 )

Research Head (MONEY MAKER RESEARCH & INVESTMENT ADVISOR PVT LTD) is having a view that one can go long in GRAPHITE.

“GRAPHITE is the stock which I would suggest to buy above 409; this can see upside to levels closer to

Rs 425 - 430 zones, keep stop loss below Rs 385”

Price has risen by 9.99% and Vol has risen by 34.10% (Vol compared with 5 day avg vol till 04:00 PM)

Stock has been gaining for the last 3 days and has risen 14.56% in the period & Outperformed Sector by 1.27%

GRAPHITE was closed 9.99 percent up today at Rs 408.85 at NSE

Reliance Communication shares close at record low after Aircel merger falls down

Shares of Reliance Communications Ltd (RCom) today closed 11% lower to a record low after the company aborted a plan to merge with Aircel Ltd. due to regulatory delays and opposition from some creditors. The stocks closed at a fresh life low of Rs. 17.10 on the BSE, down 10.94 percent from its last close, while the Sensex closed higher by 213.66 points to 31,497.38. The stock opened at Rs. 18.70 and come near a new all-time low of Rs, 16.75.

On Sunday, Reliance Communications said in a regulatory filing that the merger agreement with Aircel was allowed to lapse by mutual consent, on account of regulatory hurdles and resistance from some creditors. In its filing to stock exchanges, the company announced that it is looking at alternatives to trim down debt, including sale of real estate assets and optimization of spectrum.

The merger would have generated one of India’s largest telecom operators in terms of subscriber base. As per the agreement, ownership of the merged entity would have rested uniformly with Reliance Communications and Aircel parent Malaysia-based Maxis Communication