Yellow metal keeps head above water

Yellow metal keeps head above water

22/11/2016 14:03

Gold futures rose during afternoon trade in the domestic market on Tuesday as investors and speculators extended their positions in the precious metal after easing of US dollar and physical buying in Asia.

The weakness in dollar boosted demand for the precious metal as an alternative asset for investment.

However, the expectations of US interest rate hike in near term, kept pressure on gold prices.

At the MCX, gold futures for December 2016 contract is trading at Rs 29,184 per 10 grams, up by 0.17 per cent, after opening at Rs 29,178, against a previous close of Rs 29,135. It touched the intra-day high of Rs 29,224 (at 13:46 hours).

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s