However, caution ahead of the US jobs data curbed gains in the precious metal. US job growth may have accelerated last month after falling to a near three-year low in December, boosting the case for further QE taper, dimming the appeal of the bullion, a hedge against the inflationary risk of monetary stimulus.
Gold futures for April 2014 contract, at MCX, is trading at Rs. 28,768 per 10 grams, up by 0.41 per cent, after opening at Rs. 28,730, against the previous closing price of Rs 28,650. It touched an intra-day high of Rs 28,814. (At 11:13 AM).
Dion Global Solutions Ltd.