Bullion little changed ahead of US data
23/12/2014 10:46
Gold futures were trading on a flat note in the domestic market on Tuesday amid caution ahead of a flurry of US economic data today including Q3 GDP numbers, goods and orders and housing data which may offer fresh cues over the health of the world’s biggest economy.
Upbeat economic data may boost the case for the US Federal Reserve to raise interest rates in mid-2015, dimming the appeal of the bullion as a store of value.
Falling oil prices may slow global inflaiton, dampening the appeal of the precious metal as a hedge against rising prices.
At the MCX, Gold futures for February 2015 contract is trading at Rs 26,610 per 10 gram, up by 0.01 per cent after opening at Rs 26,592, against the previous closing price of Rs 26,608. It touched the intra-day high of Rs 26,670 till the closing. (At 10:31 AM)
23/12/2014 10:46
Gold futures were trading on a flat note in the domestic market on Tuesday amid caution ahead of a flurry of US economic data today including Q3 GDP numbers, goods and orders and housing data which may offer fresh cues over the health of the world’s biggest economy.
Upbeat economic data may boost the case for the US Federal Reserve to raise interest rates in mid-2015, dimming the appeal of the bullion as a store of value.
Falling oil prices may slow global inflaiton, dampening the appeal of the precious metal as a hedge against rising prices.
At the MCX, Gold futures for February 2015 contract is trading at Rs 26,610 per 10 gram, up by 0.01 per cent after opening at Rs 26,592, against the previous closing price of Rs 26,608. It touched the intra-day high of Rs 26,670 till the closing. (At 10:31 AM)
