Bullions logs slim gains ahead of US data
11/09/2014 11:38
Gold futures were trading with slim gains in the domestic market on Thursday as investors weighed the outlook for the US monetary policy ahead of the US Federal Reserve’s two-day policy meet next week where the Fed may continue to trim QE. Investors were also cautious ahead of US jobless claims data due today which may signal strength in the labour market recovery of the world’s biggest economy, boosting the case for early monetary tightening, weighing on gold’s appeal as a store of value. Gold futures for October 2014 contract, at MCX, is trading at Rs. 27,198 per 10 grams, up by 0.07 per cent, after opening at Rs. 27,200, against the previous closing price of Rs 27,179. It touched an intra-day high of Rs 27,219. (At 11:23 AM).
11/09/2014 11:38
Gold futures were trading with slim gains in the domestic market on Thursday as investors weighed the outlook for the US monetary policy ahead of the US Federal Reserve’s two-day policy meet next week where the Fed may continue to trim QE. Investors were also cautious ahead of US jobless claims data due today which may signal strength in the labour market recovery of the world’s biggest economy, boosting the case for early monetary tightening, weighing on gold’s appeal as a store of value. Gold futures for October 2014 contract, at MCX, is trading at Rs. 27,198 per 10 grams, up by 0.07 per cent, after opening at Rs. 27,200, against the previous closing price of Rs 27,179. It touched an intra-day high of Rs 27,219. (At 11:23 AM).
