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Gold futures closed higher in the domestic market on Monday as signs of growing inflation and a steep decline in U.S. equities helped to raise investment demand in the precious metal. Traders also are bracing for a week full of economic data and a two-day meeting of the Federal Reserve to gain hints on where prices for the metal may head next. At the MCX, gold futures for February 2017 contract ended at Rs 28555 per 10 grams, up by 0.71 per cent, after opening at Rs 28,384 against a previous close of Rs 28,353. It touched the intra-day high of Rs 28,560.
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Gold futures closed higher in the domestic market on Monday as signs of growing inflation and a steep decline in U.S. equities helped to raise investment demand in the precious metal. Traders also are bracing for a week full of economic data and a two-day meeting of the Federal Reserve to gain hints on where prices for the metal may head next. At the MCX, gold futures for February 2017 contract ended at Rs 28555 per 10 grams, up by 0.71 per cent, after opening at Rs 28,384 against a previous close of Rs 28,353. It touched the intra-day high of Rs 28,560.
