Monday, June 13, 2016

Bullion Tips: Yellow metal up as dollar weakens

Bullion Tips: Gold futures were trading higher during the noon trade in the domestic market on Monday helped by weakness in dollar and fall in Asian stocks ahead of key central bank meetings this week and Britain's referendum on its EU membership on June 23.

As Weaker greenback makes gold cheaper for those holding other currencies, thus bolstering demand.

At the MCX, Gold futures for August 2016 contract is trading at Rs 30,305 per kg, up by 0.73 per cent, after opening at Rs 30,094, against a previous close of Rs 30,084. It touched the intra-day high of Rs 30,378