Precious Metals
Gold futures were trading little changed in the domestic market on Monday as investors and speculators were cautious over booking fresh positions in the precious metal ahead of the two- day policy meet of the US Federal Reserve starting Tuesday in which the central bank may end its USD 15 billion monthly bond buying program, dimming the appeal of gold, a hedge against the inflationary risk of monetary stimulus.
Meanwhile, most European banks passed a stress test of the European Central Bank (ECB), dimming the safe haven demand for the bullion.
Gold futures for December 2014 contract, at MCX, is trading at Rs. 27,189 per 10 grams, up by 0.05 per cent, after opening at Rs. 27,168, against the previous closing price of Rs 27,176. It touched an intra-day high of Rs 27,190. (At 11:28).
D A I L Y B U Z Z
GOLDGold futures were trading little changed in the domestic market on Monday as investors and speculators were cautious over booking fresh positions in the precious metal ahead of the two- day policy meet of the US Federal Reserve starting Tuesday in which the central bank may end its USD 15 billion monthly bond buying program, dimming the appeal of gold, a hedge against the inflationary risk of monetary stimulus.
Meanwhile, most European banks passed a stress test of the European Central Bank (ECB), dimming the safe haven demand for the bullion.
Gold futures for December 2014 contract, at MCX, is trading at Rs. 27,189 per 10 grams, up by 0.05 per cent, after opening at Rs. 27,168, against the previous closing price of Rs 27,176. It touched an intra-day high of Rs 27,190. (At 11:28).
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