Gold futures up on rupee appreciation
27/06/2014 10:37
Gold futures rose in the domestic market on Friday as a weaker rupee more than offset the losses in the precious metal in the overseas market. Depreciation in the rupee against the US dollar exerted upward pressure on domestic bullion prices. Easing concerns over Iraq where the military regained control of the country’s biggest oil refinery dimmed the safe haven appeal of the bullion, curbing gains in Gold futures. All eyes are on the US consumer sentiment data which may show further improvement in the US economy. Gold futures for August 2014 contract, at MCX, is trading at Rs. 27,756 per 10 grams, up by 0.32 per cent, after opening at Rs. 27,705, against the previous closing price of Rs 27,667. It touched an intra-day low of Rs 27,799. (At 10:21 AM).
27/06/2014 10:37
Gold futures rose in the domestic market on Friday as a weaker rupee more than offset the losses in the precious metal in the overseas market. Depreciation in the rupee against the US dollar exerted upward pressure on domestic bullion prices. Easing concerns over Iraq where the military regained control of the country’s biggest oil refinery dimmed the safe haven appeal of the bullion, curbing gains in Gold futures. All eyes are on the US consumer sentiment data which may show further improvement in the US economy. Gold futures for August 2014 contract, at MCX, is trading at Rs. 27,756 per 10 grams, up by 0.32 per cent, after opening at Rs. 27,705, against the previous closing price of Rs 27,667. It touched an intra-day low of Rs 27,799. (At 10:21 AM).
