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Gold Edges Higher on MCX
Gold futures were seen trading higher on Friday on the Multi Commodity Exchange tracking international market which inched up on back of soft dollar. However, international gold was headed for second weekly drop.
International spot gold gained 1 per cent to $1,184.81 an ounce. Liquidity in the market will less due to holiday season.
The recent losses in the yellow metal may have triggered some physical demand. However, overall sentiment may continue to remain bearish due to improving US economic outlook.
At the MCX, gold futures for February 2015 contract is trading at Rs 26,844 per 10 gram, up by 0.98 per cent. It touched the intra-day high of Rs 26,889 during the trade.
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