Precious Metals
GOLD
Gold futures rose in the domestic market on Friday as investors and speculators booked fresh positions in the precious metal as the US Federal Reserve stressed that it is no hurry to raise borrowing costs for the first time since 2006, bolstering the appeal of the bullion as a store of value.The Fed this week said that it doesn’t see a rate hike before end-April and that economic data will dictate the exact timing for monetary easing. A freefall in oil prices may hamper the attainment of the Fed’s 2 per cent goal, holding back the central bank from early monetary tightening.Gold futures for February 2015 contract, at MCX, is trading at Rs. 26,913 per 10 grams, up by 0.37 per cent, after opening at Rs. 26,849, against the previous closing price of Rs 26,815. It touched an intra-day high of Rs 26,940. (At 11:47 AM).
D A I L Y B U Z Z
Gold futures rose in the domestic market on Friday as investors and speculators booked fresh positions in the precious metal as the US Federal Reserve stressed that it is no hurry to raise borrowing costs for the first time since 2006, bolstering the appeal of the bullion as a store of value.The Fed this week said that it doesn’t see a rate hike before end-April and that economic data will dictate the exact timing for monetary easing. A freefall in oil prices may hamper the attainment of the Fed’s 2 per cent goal, holding back the central bank from early monetary tightening.Gold futures for February 2015 contract, at MCX, is trading at Rs. 26,913 per 10 grams, up by 0.37 per cent, after opening at Rs. 26,849, against the previous closing price of Rs 26,815. It touched an intra-day high of Rs 26,940. (At 11:47 AM).
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