Commodity Tips | Gold futures were trading on a flattish note during late morning trade in the domestic market on Tuesday as investors and speculators resorted to a cautious approach ahead of the second estimate of the US Q3 GDP data which may show that the world’s biggest economy grew at a faster than initially estimated pace in the September quarter, bolstering the case for the US Federal Reserve to raise interest rates in December, curbing the lure for Gold as a store of value.
Analysts’ estimates show that US economic growth for Q3 may be upwardly revised to an annualized 2 per cent from an earlier 1.5 per cent.
Other data due on Tuesday includes home prices in top US cities and consumer confidence, offering further cues over the US economy’s health.
At the MCX, Gold futures for December 2015 contract is trading at Rs 25,182 per 10 gram, up by 0.07 per cent after opening at Rs 25,193, against the previous closing price of Rs 25,165. It touched the intra-day high of Rs 25,211. (At 11:49 AM).
Analysts’ estimates show that US economic growth for Q3 may be upwardly revised to an annualized 2 per cent from an earlier 1.5 per cent.
Other data due on Tuesday includes home prices in top US cities and consumer confidence, offering further cues over the US economy’s health.
At the MCX, Gold futures for December 2015 contract is trading at Rs 25,182 per 10 gram, up by 0.07 per cent after opening at Rs 25,193, against the previous closing price of Rs 25,165. It touched the intra-day high of Rs 25,211. (At 11:49 AM).
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