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.

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Yellow Metal up as US dollar eases in market

On Tuesday Gold futures closed high in the domestic market as strength in the British pound helped the U.S. dollar ease back from current multimonth highs.

Signs of a pickup in inflation, which tends to be supportive for gold, also gave the metal a lift.

At the MCX, gold futures for December 2016 contract ended at Rs 29776 per 10 grams, upward by 0.24 %, after opening at Rs 29,750, against a previous close of Rs 29,705. It touched the intra-day higher of Rs 29,840.

 

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Yellow Metal down on strong US dollar in market

In the domestic market Gold futures closed low on Thursday among a rallying U.S. dollar index & upbeat U.S. economic data which continued to produce selling in the precious metals markets.

The weekly U.S. jobless claims report Thursday showed a sharp fall in claims in the latest week and added to a batch of generally better U.S. data released this week and helped to push gold prices to new low.

 At the MCX, gold futures for October 2016 contract ended at Rs 29564 per 10 grams, downward by 1.18 %, after opening at Rs 29,835, against a previous close of Rs 29,916. It touched the intra-day low of Rs 29,550.

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Today Gold rises on Fed decision in demand

Gold futures were trading high during the morning trade in the domestic market on Thursday as investors & speculators build up fresh positions in the precious metal after the August US Fed meeting on Wednesday in which it kept key rates unchanged.

The US central bank hold interest rates unchanged at 0.25 % to 0.50 %. On the other hand, the Bank of Japan had adopted a target for long-term interest rates in its meeting on Wednesday.

At the MCX, gold futures for October 2016 bond is trading at Rs 31,283 per 10 grams, up by 0.25 %, after opening at Rs 31,250, against a previous close of Rs 31,205. It touched the intra-day high of Rs 31,284.

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