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Gold gains as Moody's downgrades outlook on India

From economictimes.indiatimes.com

Bullion counters gained on Friday as traders flocked to safe-haven counters after rating agency Moody’s downgraded its outlook for India. Moody's changed India's outlook to negative from stable while affirming India’s Baa2 ratings. Moody's expects Indian government to face very significant constraints in narrowing general government budget deficit and preventing a rise in debt burden. MCX Gold (Dec) futures added 0.64 per cent to Rs 37,814 while MCX Silver (Dec) futures were trading 0.43 per cent higher at Rs 44,357. However, in the global market, gold prices were tepid on Friday, after dropping up to 2 per cent in ... (full story)

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  • Category: Fundamental Analysis