Gold
On Thursday domestic market Gold prices ended lower
midst of positive developments in the Greek Debt crisis and mixed US
economic data. Gold is typically observed as a safe-haven for
investors in period of severe economic unstability.
After temporary
resolutions in both longstanding disputes earlier current week,
investors could be wary of even further decrement in gold. Further,
the greenback rose, weakening the requirement for the bullion as an
alternative asset. A higher dollar makes gold cheaper for those
holding other currencies, thus reducing gold demand. Click Here For Bullion
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Moreover, losses
were curbed due to instability in the Chinese economy and slow moving
talks in the Greek Debt & Iranian Nuclear negotiations. At the
MCX, August 2015 contract of Gold futures closed at Rs 25,771 per 10
gms, down by 0.29 % after opening at Rs 25,810, against the preceding
closing price of Rs 25,847. It reached the intra-day low of Rs 25,710
time of closing.
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