Gold little changed ahead of FOMC minutes
08/04/2015 12:45
Gold futures were trading on a flat note in the domestic market on Wednesday as investors and speculators stuck to a cautious approach ahead of the release of the Federal Reserve’s latest policy meet’s minutes which may drop fresh hints over the timing of a maiden interest rate lift-off since 2006.
A stronger dollar also curbed the demand for the bullion as an alternative asset. Stronger greenback makes gold more expensive for those holding other currencies, thus dimming demand.
At the MCX, Gold futures for June 2015 contract is trading at Rs 26,875 per 10 gram, unchanged after opening at Rs 26,880, against the previous closing price of Rs 26,875.
08/04/2015 12:45
Gold futures were trading on a flat note in the domestic market on Wednesday as investors and speculators stuck to a cautious approach ahead of the release of the Federal Reserve’s latest policy meet’s minutes which may drop fresh hints over the timing of a maiden interest rate lift-off since 2006.
A stronger dollar also curbed the demand for the bullion as an alternative asset. Stronger greenback makes gold more expensive for those holding other currencies, thus dimming demand.
At the MCX, Gold futures for June 2015 contract is trading at Rs 26,875 per 10 gram, unchanged after opening at Rs 26,880, against the previous closing price of Rs 26,875.
