Gold gains on weak dollar, investors look ahead to Fed
27/04/2015 11:52
Gold futures rose by 0.29 per cent on Monday at the domestic markets as investors bought following last week's sharp dip to end the week and looked ahead to the Federal Reserve meeting this week.
Further, weaker dollar raised the appeal of the commodity as an alternative asset. Weaker greenback makes gold cheaper for those holding other currencies thus increasing demand.
Investors will focus on the conclusion of the Federal Reserve's two-day monetary policy meeting on Wednesday, which could provide indications on how soon it might raise interest rates.
At the MCX, Gold futures for June 2015 contract was trading at Rs 26,779 per 10 gram, up by 0.29 per cent after opening at Rs 26,771, against the previous closing price of Rs 26,701. It touched the intra-day high of Rs 26,800 till the trading. (At 11.52 AM today).
27/04/2015 11:52
Gold futures rose by 0.29 per cent on Monday at the domestic markets as investors bought following last week's sharp dip to end the week and looked ahead to the Federal Reserve meeting this week.
Further, weaker dollar raised the appeal of the commodity as an alternative asset. Weaker greenback makes gold cheaper for those holding other currencies thus increasing demand.
Investors will focus on the conclusion of the Federal Reserve's two-day monetary policy meeting on Wednesday, which could provide indications on how soon it might raise interest rates.
At the MCX, Gold futures for June 2015 contract was trading at Rs 26,779 per 10 gram, up by 0.29 per cent after opening at Rs 26,771, against the previous closing price of Rs 26,701. It touched the intra-day high of Rs 26,800 till the trading. (At 11.52 AM today).
