Precious Metals
Gold futures were higher in the domestic market on Monday as investors and speculators booked fresh positions in the precious metal tracking a firm trend in the overseas market as a flush of global liquidity amid central bank action from Japan, China and Europe boosted the outlook for the bullion as a hedge against the inflationary risk of monetary stimulus. China joined Japan and Europe to unleash further monetary stimulus as it cut benchmark rates for the first time since July 2012 to bolster growth in the world’s second biggest economy. Gold futures for December 2014 contract, at MCX, is trading at Rs. 26,501 per 10 grams, up by 0.42 per cent, after opening at Rs. 26,402, against the previous closing price of Rs 26,391. It touched an intra-day high of Rs 26,513. (At 11:23 AM).
D A I L Y B U Z Z
GOLDGold futures were higher in the domestic market on Monday as investors and speculators booked fresh positions in the precious metal tracking a firm trend in the overseas market as a flush of global liquidity amid central bank action from Japan, China and Europe boosted the outlook for the bullion as a hedge against the inflationary risk of monetary stimulus. China joined Japan and Europe to unleash further monetary stimulus as it cut benchmark rates for the first time since July 2012 to bolster growth in the world’s second biggest economy. Gold futures for December 2014 contract, at MCX, is trading at Rs. 26,501 per 10 grams, up by 0.42 per cent, after opening at Rs. 26,402, against the previous closing price of Rs 26,391. It touched an intra-day high of Rs 26,513. (At 11:23 AM).
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