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Gold - Yesterday, Gold futures ended lower in the native market after data showed that the economy of US grew more than initially assumed in the 2nd-quarter, boosting optimism over the health of the economy and supporting the case for a US interest rate increase current year.
The Commerce Department stated that economy of United states grew 3.7 per-cent in the three months ended June 30, above expectations for growth of 3.2 per-cent. Preliminary data initially pegged US growth at 2.3 per cent in the 2nd quarter.
A return of global risk appetite with markets in China halting the worst five-day rout in nearly two decades and Wall Street staging the highest rally in 4-years also curbed the lure for Gold as a secure haven asset but the losses in the precious metal were trimmed by a weaker dollar which makes the bullion cheaper for those which are holding other currencies.
Gold futures contract for October 2015 closed at Rs 26,278 per 10 gms, down by 0.73 per-cent after opening at 26,400, against its last closing price of Rs 26,471. It touched the intra-day low of Rs 26,169.
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