Caution keeps bullion little changed
26/09/2016 13:00
Gold futures were trading flat, with a negative bias, in noon trade in the domestic market on Monday as investors stuck to a cautious approach ahead of comments from officials from major global central banks which will offer fresh cues over monetary policy outlooks in developed economies, while the focus was also on the outcome of the first debate between Hillary Clinton and Donald Trump, the top two contenders for the US presidency. Fed Chair Janet Yellen will speak this week even as uncertainty continues to surround the timing of the next US interest rate hike while European Central Bank president Mario Draghi may offer fresh hints over whether the Frankfurt-based central bank is likely to bolster monetary stimulus in the coming months to help prop up the 19-member Euro area economy. At the MCX, gold futures for October 2016 contract is trading at Rs 31,272 per 10 grams, down by 0.03 per cent, after opening at Rs 31,236, against a previous close of Rs 31,281. It touched the intra-day low of Rs 31,211. (At 12:56 PM).
