Gold gains on decline in stocks; strong dollar limit
gains
30/12/2014 11:39
Gold prices rose by 0.49 per cent on Tuesday at the domestic markets as a result of a decline in stocks. However, a stronger dollar reduced the appeal of the bullion as an alternative asset after a Greek vote triggered the dissolution of the country's parliament. Stronger dollar makes the precious metal expensive for those holding other currencies, thus reducing demand. Gold futures for February 2015 contract, at MCX, were trading at Rs. 26,896 per 10 grams, up by 0.49 per cent after opening at Rs. 26,845 against the previous closing price of Rs. 26,764. It touched the intra-day high of Rs. 26,918 till the trading. (At 11.25 AM today).
30/12/2014 11:39
Gold prices rose by 0.49 per cent on Tuesday at the domestic markets as a result of a decline in stocks. However, a stronger dollar reduced the appeal of the bullion as an alternative asset after a Greek vote triggered the dissolution of the country's parliament. Stronger dollar makes the precious metal expensive for those holding other currencies, thus reducing demand. Gold futures for February 2015 contract, at MCX, were trading at Rs. 26,896 per 10 grams, up by 0.49 per cent after opening at Rs. 26,845 against the previous closing price of Rs. 26,764. It touched the intra-day high of Rs. 26,918 till the trading. (At 11.25 AM today).
