Fed Lockhart’s comments weigh down Bullion
07/05/2015 13:12
Gold futures were trading lower in the domestic market on Thursday as investors and speculators exited positions in the precious metal after a top official from the US Federal Reserve played down the weakness in the world’s biggest economy in Q1, fanning speculation that the world’s leading central bank may proceed with a maiden interest rate lift-off since 2006, in the coming months, dimming the appeal of the bullion as a store of value.
Federal Reserve Bank of Atlanta President Dennis Lockhart reckons that he is “not overly concerned” with the paltry 0.2 per cent US first quarter growth with consumer spending expected to pick up.
At the MCX, Gold futures for June 2015 contract is trading at Rs 26,871 per 10 gram, down by 0.15 per cent after opening at Rs 26,912, against the previous closing price of Rs 26,911. It touched the intra-day low of Rs 26,870 till the closing. (At 12:15 PM).
07/05/2015 13:12
Gold futures were trading lower in the domestic market on Thursday as investors and speculators exited positions in the precious metal after a top official from the US Federal Reserve played down the weakness in the world’s biggest economy in Q1, fanning speculation that the world’s leading central bank may proceed with a maiden interest rate lift-off since 2006, in the coming months, dimming the appeal of the bullion as a store of value.
Federal Reserve Bank of Atlanta President Dennis Lockhart reckons that he is “not overly concerned” with the paltry 0.2 per cent US first quarter growth with consumer spending expected to pick up.
At the MCX, Gold futures for June 2015 contract is trading at Rs 26,871 per 10 gram, down by 0.15 per cent after opening at Rs 26,912, against the previous closing price of Rs 26,911. It touched the intra-day low of Rs 26,870 till the closing. (At 12:15 PM).
