Gold dips ahead of US jobs data
09/01/2015 12:57
Gold futures fell by 0.13 per cent on Friday at the domestic markets as investors looked ahead to U.S. jobs data as a sign post for the Federal Reserve to hike interest rates as expected sometime in the middle of this year. Non-farm payrolls are seen posting 240,000 jobs in December and the unemployment rate is expected to edge down to 5.7 per cent from 5.8 per cent.
At the MCX, Gold futures for February 2015 contract was trading at Rs 26,765 per 10 gram, down by 0.13 per cent after opening at Rs 26,778, against the previous closing price of Rs 26,801. It touched the intra-day low of Rs 26,729 till the trading. (At 12.45 AM today).
However, a weaker dollar raised the appeal of the bullion as an alternative asset. Weaker dollar makes the precious metal cheaper for those holding other currencies, thus raising demand.
09/01/2015 12:57
Gold futures fell by 0.13 per cent on Friday at the domestic markets as investors looked ahead to U.S. jobs data as a sign post for the Federal Reserve to hike interest rates as expected sometime in the middle of this year. Non-farm payrolls are seen posting 240,000 jobs in December and the unemployment rate is expected to edge down to 5.7 per cent from 5.8 per cent.
At the MCX, Gold futures for February 2015 contract was trading at Rs 26,765 per 10 gram, down by 0.13 per cent after opening at Rs 26,778, against the previous closing price of Rs 26,801. It touched the intra-day low of Rs 26,729 till the trading. (At 12.45 AM today).
However, a weaker dollar raised the appeal of the bullion as an alternative asset. Weaker dollar makes the precious metal cheaper for those holding other currencies, thus raising demand.
