Gold futures higher on ECB decision
04/07/2014 11:45
Gold futures rose in the domestic market on Friday after the European Central Bank (ECB) stuck to record low interest rates to boost the 18-member Euro area economy, lifting the outlook for the bullion as a store of value. The ECB maintained its key benchmark rate at a record low of 0.15 per cent. However, bets that the US Fed may raise interest rates sooner than earlier anticipated curbed gains in the precious metal. Gold futures for August 2014 contract, at MCX, is trading at Rs. 27,522 per 10 grams, up by 0.21 per cent, after opening at Rs. 27,487, against the previous closing price of Rs 27,464. It touched an intra-day high of Rs 27,529. (At 11:11 AM).
04/07/2014 11:45
Gold futures rose in the domestic market on Friday after the European Central Bank (ECB) stuck to record low interest rates to boost the 18-member Euro area economy, lifting the outlook for the bullion as a store of value. The ECB maintained its key benchmark rate at a record low of 0.15 per cent. However, bets that the US Fed may raise interest rates sooner than earlier anticipated curbed gains in the precious metal. Gold futures for August 2014 contract, at MCX, is trading at Rs. 27,522 per 10 grams, up by 0.21 per cent, after opening at Rs. 27,487, against the previous closing price of Rs 27,464. It touched an intra-day high of Rs 27,529. (At 11:11 AM).
