Physical demand boosts bullion; US data eyed
26/11/2014 11:40
Gold futures rose in the domestic market on Wednesday as investors and speculators booked fresh positions in the precious metal amid a pickup in physical demand for gold in the domestic spot market. Meanwhile, China’s gold imports from Hong Kong rose for the third straight month in October, signaling a pickup in bullion demand in the world’s biggest gold consumer. All eyes are on a string of US economic data including jobless claims, consumer spending, new home sales and durable goods orders to be released today which may offer further cues over the health of the world’s biggest economy and determine US Fed rate outlook. Gold futures for December 2014 contract, at MCX, is trading at Rs. 26,372 per 10 grams, up by 0.17 per cent, after opening at Rs. 26,363, against the previous closing price of Rs 26,326. It touched an intra-day high of Rs 26,417. (At 11:28 AM).
26/11/2014 11:40
Gold futures rose in the domestic market on Wednesday as investors and speculators booked fresh positions in the precious metal amid a pickup in physical demand for gold in the domestic spot market. Meanwhile, China’s gold imports from Hong Kong rose for the third straight month in October, signaling a pickup in bullion demand in the world’s biggest gold consumer. All eyes are on a string of US economic data including jobless claims, consumer spending, new home sales and durable goods orders to be released today which may offer further cues over the health of the world’s biggest economy and determine US Fed rate outlook. Gold futures for December 2014 contract, at MCX, is trading at Rs. 26,372 per 10 grams, up by 0.17 per cent, after opening at Rs. 26,363, against the previous closing price of Rs 26,326. It touched an intra-day high of Rs 26,417. (At 11:28 AM).
