3.02.2015 Precious Metals Report

Gold Spot gold prices declined by 0.63 percent and closed at $1274.7/oz buyers cashed in gains after the metal posted its biggest monthly rise in three years in January. Gold attracted safe-haven buyers after data showed that U.S. factory activity had cooled in January, suggesting the economy may have entered the New Year on a slightly softer footing than expected. Markets are closely watching the new Greek government's attempts to persuade its skeptical euro zone partners to accept a new debt agreement. Britain's finance minister, George Osborne, said on Monday the stand-off over Greek debt was becoming the biggest risk to the global economy. On the MCX Gold prices declined by 0.2 percent and closed at Rs.27840/10gms.

Gold prices on MCX were trading with marginal loss on Tuesday. MCX Gold April contract was trading at Rs 27593 down Rs 73, or 0.26 percent. MCX GOLD February contract was trading at Rs 27824 down Rs 16, or 0.06 percent. The GOLD rate touched an intraday high of Rs 27871 and an intraday low of Rs 27721. So far 54 contracts have been traded. GOLD prices have moved down Rs 415, or 1.47 percent in the February series so far.

Gold Spot gold prices declined by 0.63 percent and closed at $1274.7/oz buyers cashed in gains after the metal posted its biggest monthly rise in three years in January. Gold attracted safe-haven buyers after data showed that U.S. factory activity had cooled in January, suggesting the economy may have entered the New Year on a slightly softer footing than expected. Markets are closely watching the new Greek government's attempts to persuade its skeptical euro zone partners to accept a new debt agreement. Britain's finance minister, George Osborne, said on Monday the stand-off over Greek debt was becoming the biggest risk to the global economy. On the MCX, gold prices declined by 0.2 percent and closed at Rs.27840/10gms.

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