Gold rally aborted as investors book profit

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Gold rally aborted as investors book profit
The Gold rally witnessed in the last few trading sessions finally eased on Tuesday reversing its previous day's gains after hitting a record high on Monday.

International gold was seen trading at $ 1,662 an ounce, while gold on the Multi Commodity Exchange opened at Rs 3,011 per 10 grams and was seen trading at Rs 30,937, lower by Rs 133 or 0.43% at 1.45 pm IST. Gold futures contract for December delivery was trading at Rs 31,315 per 10 grams.

Delhi spot gold of 99.9 and 99.5% purity was at Rs 31,300 and Rs 31,100 per 10 grams, respectively.

Investors would now take cues from a Central Bankers and Finance Ministers meeting, which is scheduled on August 31 and September 1 at Jackson Hole, before taking fresh positions.

It is expected that during this meeting Federal Reserve Chairman Ben Bernanke and European Central Bank Chief Mario Draghi could offer measures aimed at quantitative easing.

Read more about: gold, silver, futures, mcx
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