Gold futures up on global cues
20/06/2014 10:44
Gold futures rose in the domestic market on Friday as investors and speculators booked fresh positions in the precious metal tracking a firm trend in the overseas market as deepening tensions in Iraq boosted the safe haven demand for the bullion. Further, the US Federal Reserve’s comments that borrowing costs are likely to remain at record low levels for a considerable period supported the demand for the precious metal as an alternative investment. Gold futures for August 2014 contract, at MCX, is trading at Rs. 27,765 per 10 grams, up by 0.56 per cent, after opening at Rs. 27,636, against the previous closing price of Rs 27,611. It touched an intra-day high of Rs 27,774. (At 10:22 AM).
20/06/2014 10:44
Gold futures rose in the domestic market on Friday as investors and speculators booked fresh positions in the precious metal tracking a firm trend in the overseas market as deepening tensions in Iraq boosted the safe haven demand for the bullion. Further, the US Federal Reserve’s comments that borrowing costs are likely to remain at record low levels for a considerable period supported the demand for the precious metal as an alternative investment. Gold futures for August 2014 contract, at MCX, is trading at Rs. 27,765 per 10 grams, up by 0.56 per cent, after opening at Rs. 27,636, against the previous closing price of Rs 27,611. It touched an intra-day high of Rs 27,774. (At 10:22 AM).
