30.01.2015 REPORT ON GOLD-SILVER
Gold futures for February 2015 contract, at MCX, were trading at Rs. 27,756 per 10 grams, down by 0.01 per cent after opening at Rs. 27,729 against the previous closing price of Rs. 27,759. It touched the intra-day low of Rs. 27,729 till the trading.
Gold prices fell by 0.01 per cent on Thursday at the domestic markets after trhe Federal Reserve signaled it remained on track to raise interest rates this year, though the timing remains uncertain. Stronger dollar makes the precious metal expensive for those holding other currencies, thus reducing demand. Spot gold was up 0.4 percent at USD 1,261.16 an ounce by 0027 GMT, after falling as low as USD 1,251.86 on Thursday, its weakest since Jan. 15. Gold’s 2.2-percent drop overnight was its steepest since mid-December.
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- January 30, 2015