Gold futures end lower amid caution ahead of key
data
05/06/2014 09:38
Gold futures ended lower in the domestic market on Wednesday as investors and speculators exited positions in the precious metal tracking a weak trend in the overseas market as a rally in equities dimmed the appeal of the yellow metal as an alternative asset. Further, investors were in cautious mode ahead of key domestic and global economic events due this week including the US jobs data which will offer further cues over the health of the US job market and the policy decision of the European Central Bank (ECB). Gold will benefit from any further policy easing by the ECB, given that the precious metal is a hedge against the inflationary risk of monetary stimulus. Gold futures may trade subdued ahead of the ECB policy meet today. Gold futures for June 2014 contract, at MCX, closed at Rs. 26,639 per 10 grams, down by 0.36 per cent, after opening at Rs. 26,769 against the previous closing price of Rs 26,735. It touched an intra-day low of Rs 26,631.
05/06/2014 09:38
Gold futures ended lower in the domestic market on Wednesday as investors and speculators exited positions in the precious metal tracking a weak trend in the overseas market as a rally in equities dimmed the appeal of the yellow metal as an alternative asset. Further, investors were in cautious mode ahead of key domestic and global economic events due this week including the US jobs data which will offer further cues over the health of the US job market and the policy decision of the European Central Bank (ECB). Gold will benefit from any further policy easing by the ECB, given that the precious metal is a hedge against the inflationary risk of monetary stimulus. Gold futures may trade subdued ahead of the ECB policy meet today. Gold futures for June 2014 contract, at MCX, closed at Rs. 26,639 per 10 grams, down by 0.36 per cent, after opening at Rs. 26,769 against the previous closing price of Rs 26,735. It touched an intra-day low of Rs 26,631.
