Tuesday, November 22, 2016

Precious: Yellow metal keeps head above water

In the domestic market Gold futures rose during afternoon trade on Tuesday as investors & speculators extended their positions in the precious metal after easing of US dollar and physical buying in Asia.

However, the expectations of US interest rate rise in near term, kept pressure on gold prices.

At the MCX, gold futures for Dec 2016 contract is trading at Rs 29,184 per 10 grams, upward by 0.17 %, after opening at Rs 29,178, against a last close of Rs 29,135. It touched the intra-day higher of Rs 29,224.