Bullion logs slim gain ahead of Fed meet
16/09/2014 11:35
Gold futures were trading with slim gains in the domestic market on Tuesday as investors and speculators stayed cautious ahead of the two-day US Federal Reserve policy meet beginning today where the world’s top central bank may offer some cues over the timing to raise interest rates for the first time since 2008. However, the first decline in US industrial output in seven months in August dampened speculation of earlier than expected US monetary tightening, bolstering the appeal of the bullion as a store of value. Gold futures for October 2014 contract, at MCX, is trading at Rs. 27,020 per 10 grams, up by 0.08 per cent, after opening at Rs. 27,025, against the previous closing price of Rs 26,999. It touched an intra-day high of Rs 27,053. (At 11:18 AM).
16/09/2014 11:35
Gold futures were trading with slim gains in the domestic market on Tuesday as investors and speculators stayed cautious ahead of the two-day US Federal Reserve policy meet beginning today where the world’s top central bank may offer some cues over the timing to raise interest rates for the first time since 2008. However, the first decline in US industrial output in seven months in August dampened speculation of earlier than expected US monetary tightening, bolstering the appeal of the bullion as a store of value. Gold futures for October 2014 contract, at MCX, is trading at Rs. 27,020 per 10 grams, up by 0.08 per cent, after opening at Rs. 27,025, against the previous closing price of Rs 26,999. It touched an intra-day high of Rs 27,053. (At 11:18 AM).
