Gold drops prior to ECB meeting
22/01/2015 12:17
Gold futures fell by 0.24 per cent on Thursday at the domestic markets with investors focused on an upcoming European Central Bank meeting expected to further ease policy. Further, a 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. At the MCX, Gold futures for February 2015 contract was trading at Rs 27,911 per 10 gram, down by 0.24 per cent after opening at Rs 27,941, against the previous closing price of Rs 27,977. It touched the intra-day low of Rs 27,886 till the trading. (At 11.55 AM today)
22/01/2015 12:17
Gold futures fell by 0.24 per cent on Thursday at the domestic markets with investors focused on an upcoming European Central Bank meeting expected to further ease policy. Further, a 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. At the MCX, Gold futures for February 2015 contract was trading at Rs 27,911 per 10 gram, down by 0.24 per cent after opening at Rs 27,941, against the previous closing price of Rs 27,977. It touched the intra-day low of Rs 27,886 till the trading. (At 11.55 AM today)
