Gold futures end higher amid weaker rupee
27/05/2014 09:23
Gold futures closed higher in the domestic market on Monday as a sharp depreciation in the Indian rupee against the US dollar more than offset a subdued trend in the precious metal in the overseas market. A weaker rupee against the greenback exerted upward pressure on domestic bullion prices. Gold futures ended on a flat note in the overseas market on Monday as the election of a new President in Ukraine eased concerns over tensions between Kiev and Moscow, tempering safe haven demand for the yellow metal. With markets in the US and UK closed due to a holiday, trading volumes were thin while investors were cautious ahead of key US economic data including durable goods orders, services sector activity and consumer confidence which may offer more cues over the health of the world’s biggest economy. Gold futures may trade on a cautious note ahead of key US economic data due today while investors weigh the situation in Ukraine. Gold futures for June 2014 contract, at MCX, closed at Rs. 27,483 per 10 grams, up by 0.49 per cent, after opening at Rs. 27,325 against the previous closing price of Rs 27,349. It touched an intra-day high of Rs 27,500.
27/05/2014 09:23
Gold futures closed higher in the domestic market on Monday as a sharp depreciation in the Indian rupee against the US dollar more than offset a subdued trend in the precious metal in the overseas market. A weaker rupee against the greenback exerted upward pressure on domestic bullion prices. Gold futures ended on a flat note in the overseas market on Monday as the election of a new President in Ukraine eased concerns over tensions between Kiev and Moscow, tempering safe haven demand for the yellow metal. With markets in the US and UK closed due to a holiday, trading volumes were thin while investors were cautious ahead of key US economic data including durable goods orders, services sector activity and consumer confidence which may offer more cues over the health of the world’s biggest economy. Gold futures may trade on a cautious note ahead of key US economic data due today while investors weigh the situation in Ukraine. Gold futures for June 2014 contract, at MCX, closed at Rs. 27,483 per 10 grams, up by 0.49 per cent, after opening at Rs. 27,325 against the previous closing price of Rs 27,349. It touched an intra-day high of Rs 27,500.
