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Gold steady; markets await Bernanke speech at Jackson Hole

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Gold steady; markets await Bernanke speech at Jackson Hole
After rallying through the last week, investors in gold are looking at hints from Ben Bernanke, who is to speak at Jackson Hole following a meeting of Finance Ministers.

If his speech hints at fresh rounds of monetary easing there could be a further rally in gold prices, which have already shot us considerable.

 

Overseas spot gold rose and was seen trading firm on Wednesday. Gold on the Multi Commodity Exchange opened at Rs 30,952 per 10 grams and was seen trading steady at Rs 30,951 at 1.45 pm IST. Gold futures contract for December delivery was trading at Rs 31,331 per 10 grams.

In India, the rise in gold prices prompted investors to book profits.

MCX silver futures were seen steady, silver for March delivery was seen trading above Rs 57,648 per kg.

Spot gold on MCX was seen higher at Rs 30,882 per 10 grams. Delhi spot gold of 99.9 and 99.5% purity was at Rs 31,350 and Rs 31,150 per 10 grams, respectively.

GoodReturns.in

Read more about: gold silver mcx futures
Story first published: Wednesday, August 29, 2012, 13:59 [IST]
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