Precious Metals
Gold futures fell in the domestic market on Tuesday 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. However, the losses in the yellow metal were trimmed by hopes of a pickup in physical demand for gold in India and China this quarter amid the festive and wedding season. Gold futures for December 2014 contract, at MCX, is trading at Rs. 27,180 per 10 grams, down by 0.12 per cent, after opening at Rs. 27,185, against the previous closing price of Rs 27,214. It touched an intra-day low of Rs 27,150. (At 11:20 AM).
D A I L Y B U Z Z
GOLD/SILVERGold futures fell in the domestic market on Tuesday 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. However, the losses in the yellow metal were trimmed by hopes of a pickup in physical demand for gold in India and China this quarter amid the festive and wedding season. Gold futures for December 2014 contract, at MCX, is trading at Rs. 27,180 per 10 grams, down by 0.12 per cent, after opening at Rs. 27,185, against the previous closing price of Rs 27,214. It touched an intra-day low of Rs 27,150. (At 11:20 AM).
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