Gold little changed ahead of Yellen testimony
24/02/2015 11:57
Gold futures were trading flat in the domestic market on Tuesday as investors and speculators refrained from booking fresh positions in the precious metal ahead of the testimony of Fed Chair Janet Yellen to a US Congressional Committee on Tuesday where she may offer cues over the Fed’s assessment of the world’s biggest economy and the timing of the maiden US interest rate hike since 2006. Further, investors are awaiting progress on Greece’s deal with its international creditors to unlock fresh funds to meet the debt laden country’s financing needs for another four months before a longer-term solution is sought. On Monday, Greece submitted a draft list of proposed new economic measures in exchange for fresh aid. At the MCX, Gold futures for April 2015 contract is trading at Rs 26,160 per 10 gram, up by 0.03 per cent after opening at Rs 26,228, against the previous closing price of Rs 26,153. It touched the intra-day high of Rs 26,259 till the closing. (At 11:40 AM).
24/02/2015 11:57
Gold futures were trading flat in the domestic market on Tuesday as investors and speculators refrained from booking fresh positions in the precious metal ahead of the testimony of Fed Chair Janet Yellen to a US Congressional Committee on Tuesday where she may offer cues over the Fed’s assessment of the world’s biggest economy and the timing of the maiden US interest rate hike since 2006. Further, investors are awaiting progress on Greece’s deal with its international creditors to unlock fresh funds to meet the debt laden country’s financing needs for another four months before a longer-term solution is sought. On Monday, Greece submitted a draft list of proposed new economic measures in exchange for fresh aid. At the MCX, Gold futures for April 2015 contract is trading at Rs 26,160 per 10 gram, up by 0.03 per cent after opening at Rs 26,228, against the previous closing price of Rs 26,153. It touched the intra-day high of Rs 26,259 till the closing. (At 11:40 AM).
