Yellow metal regains sheen on global cues
16/08/2016 12:27
Gold futures were trading higher during the noon trade in the domestic market on Tuesday as participants build up fresh positions in the precious metal amid tracking firm trend overseas.
Further, the rise in prices for gold was attributed to a firming trend in global markets where gold advanced for a second straight day amid speculation that the US central bank will be slow in raising interest rates, with investors counting down to the release of the Fed’s minutes of its July meeting as the dollar declined.
At the MCX, gold futures for October 2016 contract is trading at Rs 31,433 per 10 grams, up by 0.69 per cent, after opening at Rs 31,250, against a previous close of Rs 31,219. It touched the intra-day high of Rs 31,470 (at 12:20 hours).
16/08/2016 12:27
Further, the rise in prices for gold was attributed to a firming trend in global markets where gold advanced for a second straight day amid speculation that the US central bank will be slow in raising interest rates, with investors counting down to the release of the Fed’s minutes of its July meeting as the dollar declined.
At the MCX, gold futures for October 2016 contract is trading at Rs 31,433 per 10 grams, up by 0.69 per cent, after opening at Rs 31,250, against a previous close of Rs 31,219. It touched the intra-day high of Rs 31,470 (at 12:20 hours).
