Gold News Of 2.02.2015

Gold futures for February 2015 contract, at MCX, were trading at Rs. 27,450 per 10 grams, up by 0.11 percent after opening at Rs. 27,452 against the previous closing price of Rs. 27,419. Gold prices rose by 0.11 percent on Friday at the domestic markets on physical demand prospects ahead of the Chinese New Year holidays in February with the dollar also slightly weaker. A weaker dollar raised the appeal of the bullion as an alternative asset. Weaker dollar makes the precious metal cheaper for those holding other currencies, thus increasing demand.