Gold Futures up in trade as stimulus tapering fears ease

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Gold Futures up in trade as stimulus tapering fears ease
Gold Futures were trading higher on the MCX with Gold for July delivery trading higher by Rs 12 at Rs 27,572.

Silver prices on the other hand fell with Silver for September delivery trading at Rs 42,004, down Rs 230 on the MCX.

Gold prices rallied in trade in the international markets after weak housing data renewed expectations that the Federal Reserve would not taper its QE Bond buying programme.

International gold prices have now rallied to fresh one month highs. According to a Reuters report Gold has recovered nearly $160 from a three-year low of $1,180.71 an ounce, hit on June 28, after the U.S. Federal Reserve said it would only start phasing out its stimulus once it is sure the economy is strong enough to stand on its own.

Read more about: gold futures
Story first published: Tuesday, July 23, 2013, 10:51 [IST]
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