Gold futures for February 2015 contract, at Multi Commodity Exchange, were trading at Rs. 27,890 per 10 grams, down by 0.04 percent after opening at Rs. 27,865 against the previous closing price of Rs. 27,902. It touched the intra-day low of Rs. 27,852 till the trading.
Gold steadied above USD1,280 an ounce on Thursday after the US Federal Reserve reiterated it would be patient in deciding when to raise interest rates, keeping bullion trading in recent ranges. Spot gold was nearly flat at USD1,284.91 an ounce by 0034 GMT, not far below a five-month top of USD1,306.20 reached last week. US gold for February delivery was also little changed at USDUSD1,284.70 an ounce.
India’s Q2 CAD stood at 2.1 percent, a five- quarter high as exports growth slowed and imports increased because of a rise in demand for gold. Jain expects gold imports to be at manageable levels at USD 1.2-2 billion and believes the benefit of lower crude oil prices will start flowing in soon.
India’s Q2 CAD stood at 2.1 percent, a five- quarter high as exports growth slowed and imports increased because of a rise in demand for gold. Jain expects gold imports to be at manageable levels at USD 1.2-2 billion and believes the benefit of lower crude oil prices will start flowing in soon.
Silver prices fell 0.32 percent to Rs 40,080 per kg in futures trade today as speculators trimmed positions. At the Multi Commodity Exchange, silver for delivery in far-month May traded lower by Rs 129, or 0.32 percent, to Rs 40,080 per kg in business turnover of 35 lots.
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