MCX Bullions Tips - Gold prices ended lower in the domestic market on Thursday in the midst of positive developments in the Greek Debt crisis and mixed US economic data. Gold is typically viewed as a safe-haven for investors in period of severe economic doubt. After interim resolutions in both longstanding disputes advance of this week, investors could be wary of even further declines in gold. Further, the greenback rose, weakening the demand for the bullion as an alternative asset. A higher dollar makes gold cheaper for those holding other currencies, thus reducing gold demand. However, losses were curbed due to instability in the Chinese economy and slow moving talks in the Greek Debt and Iranian Nuclear negotiations. At the MCX, Gold futures for August 2015 contract closed at Rs 25,771 per 10 gram, down by 0.29 per cent after starting at Rs 25,810, opposed the previous closing price of Rs 25,847. It touched the intra-day down of Rs 25,710 until the ending.
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