Precious Metals
Gold futures rose in the domestic market on Monday as investors and speculators booked fresh positions in the precious metal amid bets that the US Federal Reserve may refrain from tightening monetary policy in the near-term as the jobs data for the month of October lagged estimates, bolstering the demand for the bullion as a store of value. However, a drop in holding in gold backed exchange traded products trimmed gains in the precious metal. Holdings in the SPDR Gold Trust, the leading gold backed exchange traded product shrank for a fourth day to the least since September 2008. Gold futures for December 2014 contract, at MCX, is trading at Rs. 25,955 per 10 grams, up by 0.09 per cent, after opening at Rs. 25,958, against the previous closing price of Rs 25,932. It touched an intra-day high of Rs 26,036. (At 11:29 AM).
D A I L Y B U Z Z
GOLDGold futures rose in the domestic market on Monday as investors and speculators booked fresh positions in the precious metal amid bets that the US Federal Reserve may refrain from tightening monetary policy in the near-term as the jobs data for the month of October lagged estimates, bolstering the demand for the bullion as a store of value. However, a drop in holding in gold backed exchange traded products trimmed gains in the precious metal. Holdings in the SPDR Gold Trust, the leading gold backed exchange traded product shrank for a fourth day to the least since September 2008. Gold futures for December 2014 contract, at MCX, is trading at Rs. 25,955 per 10 grams, up by 0.09 per cent, after opening at Rs. 25,958, against the previous closing price of Rs 25,932. It touched an intra-day high of Rs 26,036. (At 11:29 AM).
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