Research via Reports on Bullion Metal : Gold Little Changed Today
Today, Gold futures were traded on a flat note during noon trade in the domestic market.
indore, india, March 31, 2016 (Newswire.com) - Bullion tips : Mcx Gold futures were traded on a flat note during noon trade in the domestic market on today as a surge in world wide equities amid Fed Chair Janet Yellen’s signal of taking a carefull approach to raising US(United States) borrowing costs further, dented the secure have appeal for the yellow metal.
Gold is highly perceptive, to monetary policy of US, as increasing interest rates lift the opportunity cost of accumulating non-yielding bullion, while lifting the dollar. The metal slided 3 per-cent last week after hawkish comments from a series of officials of Federal.
Spot gold rose by 1.8 per-cent to $1,242.60 an ounce by 2:46 p.m. EDT (1846 GMT), recovering from Monday's one-month low of $1,208.15. US(United States) gold futures for April month delivery settled up 1.3 per-cent or up $15.70 an ounce at $1,235.80.
Yellen called for a slower pace of United States interest rate tightening as she stressed that the rate of inflation in the US hasn’t yet proven to be sustainable in the wake of rising global risks that would slower the growth of economy of america, lowering risk taking appetite.
Moreover, mcx gold, a non-interest bearing asset will benefit from a prolonged period of lower US interest rates.
MCX : April 2016 contract for gold futures trading around Rs 28,726 per 10 gms, down by 0.06 per-cent after unlocking at Rs 28,655, against the previous closing price of Rs 8,743.Furthermore, it reached the intra-day low of Rs 28,655.
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