Precious Metals
Gold futures were trading with slim gains in the domestic market on Monday as a weaker rupee against the US dollar pushed up domestic bullion prices. Depreciation in the Indian rupee against the greenback tends to exert upward pressure on domestic bullion prices.
However, caution ahead of US economic data which may show a revival in personal spending last month may signal a pickup in the world’s biggest economy, bolstering the case for the US Federal Reserve to raise borrowing costs, dimming the appeal of the bullion as a store of value, curbed gains in the precious metal.
Gold futures for October 2014 contract, at MCX, is trading at Rs. 26,829 per 10 grams, up by 0.13 per cent, after opening at Rs. 26,855, against the previous closing price of Rs 26,793. It touched an intra-day high of Rs 26,855
D A I L Y B U Z Z
GOLDGold futures were trading with slim gains in the domestic market on Monday as a weaker rupee against the US dollar pushed up domestic bullion prices. Depreciation in the Indian rupee against the greenback tends to exert upward pressure on domestic bullion prices.
However, caution ahead of US economic data which may show a revival in personal spending last month may signal a pickup in the world’s biggest economy, bolstering the case for the US Federal Reserve to raise borrowing costs, dimming the appeal of the bullion as a store of value, curbed gains in the precious metal.
Gold futures for October 2014 contract, at MCX, is trading at Rs. 26,829 per 10 grams, up by 0.13 per cent, after opening at Rs. 26,855, against the previous closing price of Rs 26,793. It touched an intra-day high of Rs 26,855
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