Precious Metals
Gold futures rose in the domestic market on Friday as investors and speculators booked fresh positions in the precious metal tracking a firm trend in the overseas market as rising tensions in the Middle East and Ukraine boosted the safe haven demand for the bullion. Russia banned food imports from the EU and US, countries that had imposed sanctions against Moscow for its role in the Ukraine crisis while US President Barack Obama authorised air strikes in Iraq to contain militancy. Gold futures for October 2014 contract, at MCX, is trading at Rs. 28,988 per 10 grams, up by 0.76 per cent, after opening at Rs. 28,845, against the previous closing price of Rs 28,770. It touched an intra-day high of Rs 29,044. (At 10:53 AM).
SILVER
Silver futures closed lower in the domestic market on Thursday as investors and speculators booked profits in the precious metal after a stellar rally in the previous session when rising geopolitical tensions amid the deepening crisis in Ukraine boosted the safe haven demand for the bullion. A stronger dollar dimmed the appeal of the bullion as an alternative asset. Stronger greenback makes silver more expensive for holding other currencies. Silver futures for September 2014 contract, at MCX, closed at Rs. 43,814 per 10 grams, down by 0.24 per cent, after opening at Rs. 43,966, against the previous closing price of Rs 43,920. It touched an intra-day low of Rs 43,628.
D A I L Y B U Z Z
GOLDGold futures rose in the domestic market on Friday as investors and speculators booked fresh positions in the precious metal tracking a firm trend in the overseas market as rising tensions in the Middle East and Ukraine boosted the safe haven demand for the bullion. Russia banned food imports from the EU and US, countries that had imposed sanctions against Moscow for its role in the Ukraine crisis while US President Barack Obama authorised air strikes in Iraq to contain militancy. Gold futures for October 2014 contract, at MCX, is trading at Rs. 28,988 per 10 grams, up by 0.76 per cent, after opening at Rs. 28,845, against the previous closing price of Rs 28,770. It touched an intra-day high of Rs 29,044. (At 10:53 AM).
SILVER
Silver futures closed lower in the domestic market on Thursday as investors and speculators booked profits in the precious metal after a stellar rally in the previous session when rising geopolitical tensions amid the deepening crisis in Ukraine boosted the safe haven demand for the bullion. A stronger dollar dimmed the appeal of the bullion as an alternative asset. Stronger greenback makes silver more expensive for holding other currencies. Silver futures for September 2014 contract, at MCX, closed at Rs. 43,814 per 10 grams, down by 0.24 per cent, after opening at Rs. 43,966, against the previous closing price of Rs 43,920. It touched an intra-day low of Rs 43,628.
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