Gold prices in India are surging to new highs. On MCX, October gold futures were up 0.65% to a new high of ₹37,830 amid a rally in global bullion prices. Tracking gold, silver prices also shot up. On MCX, September silver contracts surged 1.5% to ₹43,260. In global markets, gold futures surged above the important level of $1,500 an ounce on the Comex, rising as much as 1.2% to a six-year high of $1,502.30. Gold…
The Reserve Bank of India’s (RBI) monetary policy committee (MPC) on Wednesday lowered its repo rate by an unconventional 35 basis points to 5.4%. This is the fourth reduction in a row of its key policy rate since Shaktikanta Das took over as the governor of the central bank in December last year. All members of the MPC unanimously voted to reduce the policy repo rate and to maintain the accommodative stance of monetary policy.…
GTC (Good Till Cancelled) orders are orders that are valid until cancelled. They are most commonly used for placing long term stoploss and target orders. Offering this has been a challenge because exchanges in India don’t support this feature; all pending orders are cancelled by the exchange at the end of every trading day. The few brokers who do offer GTC, essentially re-place all the pending orders which were cancelled by exchange once again on…