Gold rebounds ahead of FOMC minutes
18/02/2015 12:02
Gold futures rose in the domestic market on Wednesday as investors and speculators booked fresh positions in the precious metal ahead of FOMC minutes in which the US Federal Reserve may signal its intentions to be patient over monetary tightening in the world’s biggest economy, bolstering the appeal of the bullion as a store of value. Further, lingering worries over Greece which has been unable to strike a bailout extension deal with its international creditors even with the country poised to run out of funds by the end of the month which may push it out of the euro, bolstered safe haven demand for the bullion. At the MCX, Gold futures for April 2015 contract is trading at Rs 26,324 per 10 gram, up by 0.40 per cent after opening at Rs 26,244, against the previous closing price of Rs 26,219 It touched the intra-day low of Rs 26,342 till the closing. (At 11:49 AM).
18/02/2015 12:02
Gold futures rose in the domestic market on Wednesday as investors and speculators booked fresh positions in the precious metal ahead of FOMC minutes in which the US Federal Reserve may signal its intentions to be patient over monetary tightening in the world’s biggest economy, bolstering the appeal of the bullion as a store of value. Further, lingering worries over Greece which has been unable to strike a bailout extension deal with its international creditors even with the country poised to run out of funds by the end of the month which may push it out of the euro, bolstered safe haven demand for the bullion. At the MCX, Gold futures for April 2015 contract is trading at Rs 26,324 per 10 gram, up by 0.40 per cent after opening at Rs 26,244, against the previous closing price of Rs 26,219 It touched the intra-day low of Rs 26,342 till the closing. (At 11:49 AM).
