Bullion tips : Gold prices locked lower in the native market on yesterday amid a flat dollar, ahead of the release of the minutes of the Fed Open Market Committee's September meeting on today afternoon. Investors await the release of the mins from the Fed's September month meeting on today for further hints on whether the US central bank could raise short-term interest rates before the end of the year. Click Here Bullion tips
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| Bullion tips & calls |
A rate increment is viewed as bearish in terms of Gold, which struggles to compete with high-yield bearing assets in rising rate environments. The US(United States) Dollar Index, which measures the strength of the greenback versus a basket of six other major currencies, inched up. Dollar-dominated commodities such as gold become much expensive for foreign purchasers when the dollar appreciates.
At the MCX, Gold futures for October 2015 contract closed at Rs 26,555 per 10 gram, down by 0.25 per cent after opening at Rs 26,700, against the previous closing price of Rs 26,621. It touched the intra-day low of Rs 26,416.
At the MCX, Gold futures for October 2015 contract closed at Rs 26,555 per 10 gram, down by 0.25 per cent after opening at Rs 26,700, against the previous closing price of Rs 26,621. It touched the intra-day low of Rs 26,416.
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