Further the yield of bonds is uncomfortably high for the world's fourth-biggest borrower, as Italy has to pay nearly 7 per cent to borrow at a 10-year bond auction. But, it rebounds on the back of buying support at 6 months low level in overseas market. At MCX, a Gold future for February contract is currently trading at Rs 27,144 up by 1.15 per cent. (AT 01.13 PM)
The recent concerns over Euro zone debt crisis led the Euro to fall to 15 months low against dollar, which made the precious metal expensive for the holders of other than dollar currency. The euro, on Thursday, declined against most of its major counterpart's on concern that the European Central Bank (ECB) will inject more cash into the financial system to avoid a credit crunch from the region's debt crisis.
The euro reached at 15-month low of 1.2855 against the U.S. dollar as Italy sold 7.02 billion Euros (US$9.06 billion) of debt due from 2014 to 2022, which was less than its original target of up to 8.5 billion Euros.
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