Gold falls by 0.29% on U.S. rate-hike
uncertainty
08/07/2014 12:07
Gold prices fell by 0.29 per cent on Tuesday at the domestic markets in the midst of concerns that interest rates may rise sooner than expected by the investors. Loose monetary policies tend to bolster gold's appeal as a hedge to weaker currencies. Gold futures for August 2014 contract, at MCX, were trading at Rs. 27,409 per 10 grams, down by 0.29 per cent after opening at Rs. 27,507 against the previous closing price of Rs. 27,490. It touched the intra-day low of Rs. 27,381 till the trading. (At 11.45 AM today). Stronger dollar dimmed the appeal of the bullion as an alternative asset. Stronger dollar makes the precious metal more expensive for those holding other currencies, thus weighing on demand
08/07/2014 12:07
Gold prices fell by 0.29 per cent on Tuesday at the domestic markets in the midst of concerns that interest rates may rise sooner than expected by the investors. Loose monetary policies tend to bolster gold's appeal as a hedge to weaker currencies. Gold futures for August 2014 contract, at MCX, were trading at Rs. 27,409 per 10 grams, down by 0.29 per cent after opening at Rs. 27,507 against the previous closing price of Rs. 27,490. It touched the intra-day low of Rs. 27,381 till the trading. (At 11.45 AM today). Stronger dollar dimmed the appeal of the bullion as an alternative asset. Stronger dollar makes the precious metal more expensive for those holding other currencies, thus weighing on demand
