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.

Continue reading →

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.

 

Read More- Gold Updates

Continue reading →

Gold loses sheen on global cues today

Gold futures were trading low during the morning trade in the domestic market on Friday as investors and speculators trimmed their positions in the precious metal in the domestic markets tracking a weak trend overseas.

Further, a weak trend in overseas markets, profit-booking by traders too influenced gold prices at futures in the domestic markets.

At the MCX, gold futures for October 2016 contract is trading at Rs 31,217 per 10 grams, downward by 0.37 %, after opening at Rs 31,242, against an earlier close of Rs 31,332. It touched the intra-day low of Rs 31,215.

Read More- Yellow Metal Updates

Continue reading →

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.

Read More- Gold Updates

Continue reading →