Gold edges higher on safe haven appeal
20/02/2015 11:29
Gold futures extended gains in the domestic market on Friday after the Fed signaled that it may keep rates at lower levels for longer, bolstering the appeal of the bullion as a store of value. Further, lingering impasse between Greece and its creditors over a debt compromise raised fears over a Greek default and an exit from the euro, boosting the safe haven demand for the bullion. Reports emerged that Germany has rejected a proposed bailout extension request from Greece which is fast running out of cash. At the MCX, Gold futures for April 2015 contract is trading at Rs 26,297 per 10 gram, up by 0.12 per cent after opening at Rs 26,260, against the previous closing price of Rs 26,266. It touched the intra-day high of Rs 26,311 till the closing. (At 11:14 AM).
20/02/2015 11:29
Gold futures extended gains in the domestic market on Friday after the Fed signaled that it may keep rates at lower levels for longer, bolstering the appeal of the bullion as a store of value. Further, lingering impasse between Greece and its creditors over a debt compromise raised fears over a Greek default and an exit from the euro, boosting the safe haven demand for the bullion. Reports emerged that Germany has rejected a proposed bailout extension request from Greece which is fast running out of cash. At the MCX, Gold futures for April 2015 contract is trading at Rs 26,297 per 10 gram, up by 0.12 per cent after opening at Rs 26,260, against the previous closing price of Rs 26,266. It touched the intra-day high of Rs 26,311 till the closing. (At 11:14 AM).
