Precious Metals
Gold futures were trading higher in the domestic market on Thursday as investors and speculators booked fresh positions in the precious metal tracking a firm trend in the overseas market after the US Federal Reserve said that it is likely to keep interest rates at very low levels for a lengthy period even after QE ends, bolstering the appeal of the bullion as a store of value. Gold futures for August 2014 contract, at MCX, is trading at Rs. 26,885 per 10 grams, up by 0.22 per cent, after opening at Rs. 26,827, against the previous closing price of Rs 26,826. It touched an intra-day high of Rs 26,888.
SILVER
Silver futures closed higher in the domestic market on Wednesday as investors and speculators booked fresh positions in the precious metal after the US Federal Reserve maintained its key benchmark interest rate unchanged near zero, boosting the demand for the precious metal as an alternative asset.
At the MCX, Silver futures, for the July 2014 contract, closed at Rs. 42,685 per kg, up by 0.14 per cent, after opening at Rs. 42,461, against the previous closing price of Rs 42,627. It touched an intra-day high of Rs 42,850.
DAILY BUZZ
GOLDGold futures were trading higher in the domestic market on Thursday as investors and speculators booked fresh positions in the precious metal tracking a firm trend in the overseas market after the US Federal Reserve said that it is likely to keep interest rates at very low levels for a lengthy period even after QE ends, bolstering the appeal of the bullion as a store of value. Gold futures for August 2014 contract, at MCX, is trading at Rs. 26,885 per 10 grams, up by 0.22 per cent, after opening at Rs. 26,827, against the previous closing price of Rs 26,826. It touched an intra-day high of Rs 26,888.
SILVER
Silver futures closed higher in the domestic market on Wednesday as investors and speculators booked fresh positions in the precious metal after the US Federal Reserve maintained its key benchmark interest rate unchanged near zero, boosting the demand for the precious metal as an alternative asset.
At the MCX, Silver futures, for the July 2014 contract, closed at Rs. 42,685 per kg, up by 0.14 per cent, after opening at Rs. 42,461, against the previous closing price of Rs 42,627. It touched an intra-day high of Rs 42,850.
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