Gold futures continue impressive rally

Posted By: Religare
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Gold futures continue impressive rally
Gold futures were trading higher in the domestic market on Tuesday as investors and speculators booked fresh positions in the precious metal tracking a firm trend in the overseas market amid robust physical demand for the bullion in China, while investors eyed the FOMC Chairman Janet Yellen's maiden speech on monetary policy to the US Congress today.

Holdings in the SPDR Gold Trust, the biggest gold-backed exchange-traded product were unchanged for a fourth day following the first back-to-back weekly increase since August, signaling steady investment demand.

Gold futures for April 2014 contract, at MCX, is trading at Rs. 29,112 per 10 grams, up by 0.61 per cent, after opening at Rs. 28,980, against the previous closing price of Rs 28,935. It touched an intra-day high of Rs 29,140. (At 11:25 AM).

Dion Global Solutions Ltd.

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