Gold gains on weak dollar
06/01/2015 12:08
Gold futures rose by 0.28 per cent on Tuesday at the domestic markets as 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.
At the MCX, Gold futures for February 2015 contract was trading at Rs 27,114 per 10 gram, up by 0.28 per cent after opening at Rs 27,100, against the previous closing price of Rs 27,038. It touched the intra-day high of Rs 27,175 till the trading. (At 12.01 AM today).
Further, investors sought shelter from steep losses in the oil market, amid lingering fears of a global economic slowdown.
06/01/2015 12:08
Gold futures rose by 0.28 per cent on Tuesday at the domestic markets as 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.
At the MCX, Gold futures for February 2015 contract was trading at Rs 27,114 per 10 gram, up by 0.28 per cent after opening at Rs 27,100, against the previous closing price of Rs 27,038. It touched the intra-day high of Rs 27,175 till the trading. (At 12.01 AM today).
Further, investors sought shelter from steep losses in the oil market, amid lingering fears of a global economic slowdown.
