Gold edges higher; BOJ unveils monetary easing

Subscribe to GoodReturns
For Quick Alerts
For Daily Alerts
    Gold edges higher; BOJ unveils monetary easing
    Gold edged higher on Tuesday after Bank of Japan (BOJ) said that it will now undertake an asset buying programme, on an open-ended basis in order to boost its economy through monetary stimulus. International gold was seen trading at $1,694 an ounce.

    In India, government increased the import duty on gold and platinum from 4 per cent to 6 per cent. Also, the government decided to provide a link between the Gold ETF (Exchange Traded Fund) and the Gold Deposit Scheme.

    The move was to unfreeze or release a part of the gold physically held by mutual funds under Gold ETFs and enable them to deposit the gold with banks under the Gold Deposit Scheme.

    Gold futures for February contract on the Multi Commodity Exchange were seen trading flat at Rs 30,764 per 10 grams at 2.10 pm IST.

    Silver futures was trading at Rs 57,445, marginally higher by Rs 13 per kgs on the MCX.

    As on January 22, gold prices for 99.9% in major cities were prevailing around Rs 31,215 in Mumbai, Rs 31,385 in Ahmadabad, Chennai spot gold was seen at Rs 31,250 per 10 grams and Delhi spot gold was also seen at Rs 31,290 per 10 grams.

    Read more about: gold etf futures mcx
    Story first published: Tuesday, January 22, 2013, 14:27 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more