Gold gains on weak dollar; Greece uncertainty
16/02/2015 11:46
Gold futures rose by 0.31 per cent on Monday 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. Further, ongoing uncertainty over developments in Greece also boosted the appeal of the precious metal.
In the coming week, investors will be focusing on Wednesday’s minutes of the latest Federal Reserve meeting for further indications on when the central bank may start to hike interest rates.
At the MCX, Gold futures for February 2015 contract was trading at Rs 26,775 per 10 gram, up by 0.31 per cent after opening at Rs 26,720, against the previous closing price of Rs 26,691. It touched the intra-day high of Rs 26,784 till the trading. (At 11.42 AM today).
16/02/2015 11:46
Gold futures rose by 0.31 per cent on Monday 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. Further, ongoing uncertainty over developments in Greece also boosted the appeal of the precious metal.
In the coming week, investors will be focusing on Wednesday’s minutes of the latest Federal Reserve meeting for further indications on when the central bank may start to hike interest rates.
At the MCX, Gold futures for February 2015 contract was trading at Rs 26,775 per 10 gram, up by 0.31 per cent after opening at Rs 26,720, against the previous closing price of Rs 26,691. It touched the intra-day high of Rs 26,784 till the trading. (At 11.42 AM today).
