For Quick Alerts
For Daily Alerts

Gold futures inch higher ahead of Bernanke speech

By Religare

Gold futures inch higher ahead of Bernanke speech
Gold futures rose in the domestic market on Tuesday as investors and speculators eyed the speech of current US Federal Reserve Chairman Ben Bernanke later today which may offer further cues over when the Fed plans to start tapering stimulus.


Federal Reserve Bank of New York President William C. Dudley said that while the US economy had shown improvement, the current pace of growth isn't enough to ensure the labour market strength needed to be seen before the Fed decides to pare QE, bolstering the outlook for the precious metal, a hedge against the inflationary risk of monetary stimulus.

Gold futures for December 2013 contract, at MCX, were trading at Rs. 30,113 per 10 grams, up by 0.21 per cent after opening at Rs. 30,077, against the previous closing price of Rs 30,051. It touched an intra-day high of Rs 30,150. (At 10:40 AM).

Dion Global Solutions Ltd.

Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
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