Gold rises on physical demand
30/01/2015 12:18
Gold prices rose by 0.11 per cent on Friday at the domestic markets on physical demand prospects ahead of the Chinese New Year holidays in February with the dollar also slightly weaker. 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 increasing demand. Gold futures for February 2015 contract, at MCX, were trading at Rs. 27,450 per 10 grams, up by 0.11 per cent after opening at Rs. 27,452 against the previous closing price of Rs. 27,419. It touched the intra-day low of Rs. 27,495 till the trading. (At 11.54 AM today).
30/01/2015 12:18
Gold prices rose by 0.11 per cent on Friday at the domestic markets on physical demand prospects ahead of the Chinese New Year holidays in February with the dollar also slightly weaker. 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 increasing demand. Gold futures for February 2015 contract, at MCX, were trading at Rs. 27,450 per 10 grams, up by 0.11 per cent after opening at Rs. 27,452 against the previous closing price of Rs. 27,419. It touched the intra-day low of Rs. 27,495 till the trading. (At 11.54 AM today).
