Gold gains on weakening dollar
06/04/2015 12:05
Gold futures rose by 1.18 per cent on Monday at the domestic market with investors focused on last week's US jobs data and thin trade with many markets shut for holidays. Further, 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. In the week ahead, markets outside the US will remain closed on Monday. The US is to release what will be closely watched data on service sector activity on Monday and the Federal Reserve is to publish the minutes of its March meeting on Wednesday. At the MCX, Gold futures for June 2015 contract was trading at Rs 26,597 per 10 gram, up by 1.18 per cent after opening at Rs 26,645, against the previous closing price of Rs 26,597. It touched the intra-day high of Rs 26,975 till the trading. (At 11.53 AM today).
06/04/2015 12:05
Gold futures rose by 1.18 per cent on Monday at the domestic market with investors focused on last week's US jobs data and thin trade with many markets shut for holidays. Further, 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. In the week ahead, markets outside the US will remain closed on Monday. The US is to release what will be closely watched data on service sector activity on Monday and the Federal Reserve is to publish the minutes of its March meeting on Wednesday. At the MCX, Gold futures for June 2015 contract was trading at Rs 26,597 per 10 gram, up by 1.18 per cent after opening at Rs 26,645, against the previous closing price of Rs 26,597. It touched the intra-day high of Rs 26,975 till the trading. (At 11.53 AM today).
