Precious Metals
GOLD/SILVER
Gold futures fell by 0.13 per cent on Friday at the domestic markets as investors looked ahead to U.S. jobs data as a sign post for the Federal Reserve to hike interest rates as expected sometime in the middle of this year. Non-farm payrolls are seen posting 240,000 jobs in December and the unemployment rate is expected to edge down to 5.7 per cent from 5.8 per cent.At the MCX, Gold futures for February 2015 contract was trading at Rs 26,765 per 10\ gram, down by 0.13 per cent after opening at Rs 26,778, against the previous closing price of Rs 26,801. It touched the intra-day low of Rs 26,729 till the trading. Silver prices declined by Rs 397 to Rs 37,365 per kg in futures trade today after speculators reduced their exposures amid weak cues from global markets. At the Multi Commodity Exchange, silver for delivery in March fell by Rs 397, or 1.05 per cent, to Rs 37,365 per kg in a business turnover of 2,018 lots. In a similar fashion, the white metal for delivery in May traded lower by Rs 358, or 0.93 per cent, to Rs 38,025 per kg in 11 lots. Analysts said reducing of positions by participants amidst a weak global trend mainly led to the fall in silver prices at futures trade here.
D A I L Y B U Z Z
Gold futures fell by 0.13 per cent on Friday at the domestic markets as investors looked ahead to U.S. jobs data as a sign post for the Federal Reserve to hike interest rates as expected sometime in the middle of this year. Non-farm payrolls are seen posting 240,000 jobs in December and the unemployment rate is expected to edge down to 5.7 per cent from 5.8 per cent.At the MCX, Gold futures for February 2015 contract was trading at Rs 26,765 per 10\ gram, down by 0.13 per cent after opening at Rs 26,778, against the previous closing price of Rs 26,801. It touched the intra-day low of Rs 26,729 till the trading. Silver prices declined by Rs 397 to Rs 37,365 per kg in futures trade today after speculators reduced their exposures amid weak cues from global markets. At the Multi Commodity Exchange, silver for delivery in March fell by Rs 397, or 1.05 per cent, to Rs 37,365 per kg in a business turnover of 2,018 lots. In a similar fashion, the white metal for delivery in May traded lower by Rs 358, or 0.93 per cent, to Rs 38,025 per kg in 11 lots. Analysts said reducing of positions by participants amidst a weak global trend mainly led to the fall in silver prices at futures trade here.
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