Gold gains as investors focus on weak inflation
19/01/2015 12:34
Gold futures rose by 0.27 per cent on Monday at the domestic markets with investors focused on weak inflation trends across the globe. Further, demand for safe haven assets was boosted amid turmoil in the currency market, following the Swiss National Bank's surprise policy decision to scrap its peg against the euro. At the MCX, Gold futures for February 2015 contract was trading at Rs 27,729 per 10 gram, up by 0.27 per cent after opening at Rs 27,650, against the previous closing price of Rs 27,654. It touched the intra-day high of Rs 26,750 till the trading. (At 12.15 PM today).
However, a stronger dollar reduced the appeal of the bullion as an alternative asset. Stronger dollar makes the precious metal expensive for those holding other currencies, thus reducing demand.
19/01/2015 12:34
Gold futures rose by 0.27 per cent on Monday at the domestic markets with investors focused on weak inflation trends across the globe. Further, demand for safe haven assets was boosted amid turmoil in the currency market, following the Swiss National Bank's surprise policy decision to scrap its peg against the euro. At the MCX, Gold futures for February 2015 contract was trading at Rs 27,729 per 10 gram, up by 0.27 per cent after opening at Rs 27,650, against the previous closing price of Rs 27,654. It touched the intra-day high of Rs 26,750 till the trading. (At 12.15 PM today).
However, a stronger dollar reduced the appeal of the bullion as an alternative asset. Stronger dollar makes the precious metal expensive for those holding other currencies, thus reducing demand.
