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Gold was trading on a flattish note in noon trade in the domestic market yesterday as traders were cautious over booking fresh bets in the precious metal ahead of the release of the mins from the US Fed Reserve’s latest meet, today which may offer cues over the timing for a maiden interest rate lift-off since 2006. Click Share market tips
Speculation is rife that the Fed may put off tightening rates at its next meet in September amid the volatility in global financial markets due to the China Yuan shock and mixed US economic data, coupled with muted inflation and a strengthening dollar which has hit the profitability of American companies having significant overseas business.
At the MCX, October 2015 contract for gold futures is trading at Rs 26,045 per 10 gms, up by 0.05 per-cent after opening at Rs 26,059, against its previous closing price of Rs 26,032. It gained the intra-day high of Rs 26,074.At 12 O' Clock.
At the MCX, October 2015 contract for gold futures is trading at Rs 26,045 per 10 gms, up by 0.05 per-cent after opening at Rs 26,059, against its previous closing price of Rs 26,032. It gained the intra-day high of Rs 26,074.At 12 O' Clock.
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