Gold-News-Of-02/03/2015

Gold futures posted slight gains in the domestic market on Friday after a downward revision in US fourth quarter economic growth and a retreat in US consumer confidence signaled a slowdown in the world’s biggest economy, boosting the safe haven demand for the bullion while raising speculation that the US Federal Reserve may keep interest rates at low levels for at least in the near-term, bolstering the demand for the yellow metal as a store of value. At the MCX, Gold futures for April 2015 contract closed at Rs 26,227 per 10 gram, up by 0.04 per cent after opening at Rs 26,240, against the previous closing price of Rs 26,216.
It touched the intra-day high of Rs 26,335 till the closing.