Bullion rebounds as Fed verdict assessed
18/12/2014 11:50
Gold futures rose in the domestic market on Thursday as investors and speculators booked fresh positions in the precious metal tracking a firm global trend as investors assessed the US Federal Reserve’s decision to drop its pledge to keep borrowing costs at low levels for a “considerable time”. Fed Chair Janet Yellen said the world’s top central bank is unlikely to raise interest rates before April as the Fed replaced its considerable time pledge with a vow to be “patient” on rate hikes, providing some support to the bullion as a store of value. Gold futures for February 2015 contract, at MCX, is trading at Rs. 27,052 per 10 grams, up by 0.36 per cent, after opening at Rs. 26,999, against the previous closing price of Rs 26,955. It touched an intra-day high of Rs 27,070. (At 11:38 AM).
18/12/2014 11:50
Gold futures rose in the domestic market on Thursday as investors and speculators booked fresh positions in the precious metal tracking a firm global trend as investors assessed the US Federal Reserve’s decision to drop its pledge to keep borrowing costs at low levels for a “considerable time”. Fed Chair Janet Yellen said the world’s top central bank is unlikely to raise interest rates before April as the Fed replaced its considerable time pledge with a vow to be “patient” on rate hikes, providing some support to the bullion as a store of value. Gold futures for February 2015 contract, at MCX, is trading at Rs. 27,052 per 10 grams, up by 0.36 per cent, after opening at Rs. 26,999, against the previous closing price of Rs 26,955. It touched an intra-day high of Rs 27,070. (At 11:38 AM).
