Gold surges on weakening dollar
21/01/2015 12:13
Gold prices rose by 0.44 per cent on Wednesday 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 increasing demand. Gold futures for February 2015 contract, at MCX, were trading at Rs. 28,208 per 10 grams, up by 0.44 per cent after opening at Rs. 28,049 against the previous closing price of Rs. 28,085. It touched the intra-day high of Rs. 28,249 till the trading. (At 11.57 AM today).
Further, investors looked ahead to the European Central Bank's policy meeting later this week to see if it would launch a government bond-buying program.
21/01/2015 12:13
Gold prices rose by 0.44 per cent on Wednesday 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 increasing demand. Gold futures for February 2015 contract, at MCX, were trading at Rs. 28,208 per 10 grams, up by 0.44 per cent after opening at Rs. 28,049 against the previous closing price of Rs. 28,085. It touched the intra-day high of Rs. 28,249 till the trading. (At 11.57 AM today).
Further, investors looked ahead to the European Central Bank's policy meeting later this week to see if it would launch a government bond-buying program.
