Mcx Golden Stock Tips ; Gold tops Rs 31,000 for first time in 2 years, three factors driving this surge

Prices of the yellow metal on Thursday hit Rs 31,000 on the Multi Commodity Exchange (MCX) for the first time since May 2014, taking cues from a surge in gold prices in global markets. The prices have risen in eight out of the past 10 sessions. We have been providing valuable Tips to our clients through various methods. For more details just visit on www.marketmagnify.com or Give One Missed call us at 78-79-88-11-22 

Gold prices have risen 10 per cent since May 2014 and 24 per cent since the beginning of the year, ending its five-year-long bear market. The yellow metal is the best performing major asset class in 2016, leaving equities far behind. 

Going by what analysts are saying, here are the three factors driving the current rally in the yellow metal. 

1) Brexit fear drives risk off rally: The risk off trade in global risk assets is sending investors flying to the safe haven of precious metals. Gold prices have risen 3 per cent in June and iShares Gold ETF has gone on a similar rally gaining close to 5%. Experts believe if the UK votes against staying with the EU, international gold prices could run up as high as $1,400. 

2) Fed, BoJ status quo energises gold bulls: The decision by two major central banks of the world to hold key policy rates steady has energised the gold bulls. The US Federal Reserve's outlook for reduced interest rate hike in 2017 and 2018 has added further stimulus to the frenzied gold buying as investors looked to hedge against the negative interest action by Bank of Japan and the European Central bank. 

3) Dollar bears help gold bulls: The inverse relationship between dollar and gold is playing out in favour of the Gold bulls. Comments from the US federal Reserve have sent the dollar tumbling against major currencies and that has aided the rally in the precious metal as international prices hit their highest level since August 2014. The dollar index, a gauge of US dollar against six major developed currencies, slipped 0.38 per cent in Thursday's trade while gold prices rallied 2.05 per cent at home.

Get Stock Market Trading Calls for Tomorrow ; Sensex, Nifty Sluggish

Today The Indian stock market is still under pressure as the Nifty hovers around 8100. The 50-share index is down 14.85 points or 0.2 percent at 8095.75 and the Sensex is down 34.66 points or 0.1 percent at 26362.11. About 1536 shares have advanced, 835 shares declined, and 133 shares are unchanged.Get More Market Updates Trading Calls Just Visit on www.marketmagnify.com or Give Missed Call at +91-78-79-88-11-22

TCS, Hero MotoCorp, Asian Paints, HUL and Bajaj Auto are losers in the Sensex while Adani Ports, SBI, Cipla, GAIL and Tata Motors are gainers. Gold fell Rs 56 to Rs 30,568 per 10 grams in futures trade today as participants reduced their positions, largely in line with a weak trend overseas. 

Microsoft agrees to buy LinkedIn for $26.2 billion Microsoft has announced it will buy enterprise social network LinkedIn in a deal valued at $26.2 billion. The tech giant's biggest purchase comes under Chief Executive Satya Nadella who is reshaping Microsoft since taking over in 2014 to appeal more to business customers with cloudbased services and productivity tools. 

Monday Top Stock Market News Tips Updates

Top Stocks in focus in Monday Stock Market Trade :-
The Indian market is expected to open flat on Monday tracking muted trend seen in other Asian markets. For daily share market news and trading service visit at www.marketmagnify.com or get free trials just give one missed call at +917879-88-11-22

Here is a list of Top Ten Stocks that are likely to be in focus today

Jaiprakash Associates: The diversified Jaypee Group companies have defaulted on loans and other payments worth Rs 4,460 crore. The Group has on a consolidated basis failed to repay Rs 2,905.6 crore in principal amount to banks and another Rs 1,558.93 crore crore in interest payments.

Excel Crop Care Ltd: Japanese conglomerate Sumitomo Corp. has acquired 44.98% stake in Excel Crop Care Ltd BSE 1.73 % for around Rs.623.44 crore and also announced the launch of a Rs.415.80 crore open offer to acquire further 30% stake in the company.

Adani Enterprises: Indian conglomerate Adani Enterprise Ltd may walk away from its proposal to build one of the world’s biggest coal mines in Australia, citing long delays caused by legal challenges to to the project by groups concerned about the environment.

Sun Pharma: A wholly owned US subsidiary of Indian drug maker Sun Pharma BSE 0.58 % has agreed to divest two oral solid dosage manufacturing facilities to Frontida BioPharma.

Coal India: Mining behemoth Coal India BSE -1.36 % is likely to deliberate on a proposal to buy back its shares in its next board meeting. “Coal India had a meeting with the government last week and a buyback proposal is likely to be placed before the next board meeting,” company officials told PTI.

Cipla: Three years since Cipla BSE 0.99 % New Ventures announced its plans to nurture innovative business ideas, the first product of that initiative has been approved under brand name Stempeucel, a drug that could possibly turn into a blockbuster.

Biocon: Indian biotech frontrunner Biocon and its global partner for biosimilars, Mylan , have announced positive data from phase 3 clinical trials of a proposed copy of trastuzumab, a complex injection used widely to treat a type of breast cancer.