Gold dips with focus on Greece, Fed minutes
07/01/2015 12:22
Gold prices fell by 0.32 per cent on Wednesday at the domestic markets as investors continued to eye Greece in the euro zone and await upcoming Federal Reserve minutes for hints on the timing of an interest rate hike widely expected this year.
Further, stronger dollar reduced the appeal of the bullion as an alternative asset. 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. 27,306 per 10 grams, down by 0.32 per cent after opening at Rs. 27,348 against the previous closing price of Rs. 27,394. It touched the intra-day low of Rs. 27,228 till the trading. (At 12.13 PM today).
07/01/2015 12:22
Gold prices fell by 0.32 per cent on Wednesday at the domestic markets as investors continued to eye Greece in the euro zone and await upcoming Federal Reserve minutes for hints on the timing of an interest rate hike widely expected this year.
Further, stronger dollar reduced the appeal of the bullion as an alternative asset. 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. 27,306 per 10 grams, down by 0.32 per cent after opening at Rs. 27,348 against the previous closing price of Rs. 27,394. It touched the intra-day low of Rs. 27,228 till the trading. (At 12.13 PM today).
